The US retail group Urban Outfitters Inc. closed the 2021/22 financial year with a new sales record. As the company announced on Thursday, revenues for the reporting period ended January amounted to 4.55 billion US dollars (4.02 billion euros). They exceeded the level of 2019/20 by 14.2 percent, mainly thanks to strong growth in online business. Compared to the previous year, when the consequences of the Covid 19 pandemic had severely affected business at times, sales increased by 31.9 percent.
All of the Group’s trading segments contributed to the significant increase compared to the year before the crisis: In the Anthropologie Group division, sales of 1.79 billion US dollars were 9.5 percent above the level of 2019/20. The retail chain Urban Outfitters improved by 12.4 percent to 1.68 billion US dollars, the Free People Group segment even increased its sales by 23.4 percent to 1.00 billion US dollars.
In the Nuuly area, which includes the fashion rental service launched in summer 2019 and a second-hand marketplace since last fall, sales jumped from 8.0 to 47.7 million US dollars. The catering division Menus & Venues, on the other hand, had to accept a drop in sales of 20.2 percent to 21.6 million US dollars.
In addition to the current sales figures, the group also announced a change of personnel: Francis Pierrel took over the management of the North American business of the retail chain Urban Outfitters. Most recently, Pierrel was CEO of the fashion brand Club Monaco, before that he held various management roles at Ralph Lauren, Lacoste and Diesel.