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

Zinger Key Points
  • Urban Outfitters said net sales for the two months ended Dec. 31 increased 10% on a year-over-year basis.
  • Shea Jensen will be joining Urban Outfitters as president of Urban Outfitters Brand, North America, on Feb. 5.

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.

See Also: Bank Earnings Preview: Cautious Outlook As JPMorgan, Citigroup, BofA And Wells Fargo Report On Friday

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

Photo:  from Flickr.

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