Urban Outfitters Stock Is Trading Higher Tuesday: What's Going On?

Urban Outfitters Inc URBN shares are trading higher Tuesday after the company reported upbeat holiday sales.

What Happened: Urban Outfitters said net sales for the two months ended Dec. 31 increased 10% on a year-over-year basis. Retail net sales increased 8% year-over-year and comparable retail sales increased 6% year-over-year, driven by high single-digit positive growth in digital channel sales and low single-digit positive growth in retail store sales.

Comparable retail sales increased 20% at Free People and increased 14% at Anthropologie, but decreased 13% at Urban Outfitters. 

Urban Outfitters also announced that Shea Jensen will be joining the team as president of Urban Outfitters Brand, North America, effective Feb. 5.

"Shea is a strong leader with extensive experience across all retail channels. We are delighted to have Shea join the brand and believe her authentic leadership style and customer-first mindset will be a great asset to the brand," said Richard A. Hayne, CEO of Urban Outfitters.

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URBN Price Action: Urban Outfitters shares were up 4.6% at $38.04 at the time of writing, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.