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Urban Outfitters notches record quarter; to open 54 stores this year

Urban Outfitters Inc. reported record first-quarter earnings and sales, with increases across all its divisions.

The apparel retailer’s earnings and revenue topped  expectations, with especially strong performances from its wholesale and subscription segments, and its FP Group business, which is made up of Free People and activewear brandFP Movement.  

“Both Free People and FP Movement delivered an exceptional strong quarter, including record-low markdown rates,” Sheila Harrington, global CEO of the company’s namesake brand and FP Group, said on the earnings call.

Harrington added that Free People and FP Movement are now being managed as two two independent ecosystems, “each serving genuinely different market opportunities,” rather than as parent and sub brand.

Urban Outfitters notches record quarter; to open 54 stores this year | Chain Store Age

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