Anthropologie parent Urban Outfitters sales have finally turned around after a series of declining quarters.
In the three months to January, same store sales rose six per cent – the first quarterly increase of 2014. It was a significant turnaround from a 10 per cent slump in the third quarter.
Overall revenue increased by 11.6 per cent, to US$1.01 billion.
Urban Outfitters operates retail chains under the brands Anthropologie, Free People and its own name. The company says demand rose most strongly in Urban Outfitters and Free People stores.
CEO Richard Haye said the company was pleased to report what was its first billion dollar quarter, fuelled by positive retail segment ‘comps’ across all its brands.
“It is encouraging to see this sales trend continue into Q1.”