URBN - Urban Outfitters reports 2.3% growth in holiday sales
- Urban Outfitters ( NASDAQ: URBN ) said Monday its holiday sales grew 2.3% Y/Y , driven by higher retail segment comparable net sales.
- Total retail segment net sales rose 1% for the two months ended December 31, with comparable retail segment net sales increasing 2%, partially offset by a 1% negative impact from foreign currency translation.
- Higher retail segment comparable net sales were driven by low single-digit positive growth in digital channel sales and in retail store sales.
- Wholesale segment net sales fell 22%, hurt by lower Free People wholesale sales as a result of a decrease in sales to department stores.
- Earlier, short sellers pulled back on bets against Urban Outfitters ( URBN ), according to Baird .
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Urban Outfitters reports 2.3% growth in holiday sales