Urban Outfitters records record sales results as shares rocket

Urban Outfitters has announced record overall sales of £769.5m, seeing a 13.7% increase across the three months to July 31.

The fashion retailer also announced an 86% income rise over the last quarter, bringing its half year income to £103.9m. The record figures led to a rocket in share price up by 5% to 84 cents per share, well ahead of analysts predictions of 77 cents.

Urban Outfitters’ self named brand saw a 15% sales rise bringing total half year sales to £294m, the company’s other brands Free People and Anthropology enjoyed rises of 17% and 11% respectively. Anthropology had the highest volume sales of all the group’s brands with total half year sales of £311m.

The company said the impressive figures were down to solid online and mobile growth across all brands.

Richard A. Hayne, CEO of Urban Outfitters, said: “I’m pleased to announce our teams produced record Q2 sales and earnings per share. All three brands delivered double-digit Retail segment ‘comp’ sales and lower markdown rates to drive these results.”