Urban Outfitters Reports 10% Increase in Holiday Sales

US retail sales rose in December, with a notable 4.07% increase in clothing and accessories compared to November and a 14.47% surge year-over-year, driven in part by the inclusion of critical shopping days from the Thanksgiving weekend. The NRF highlighted overall retail sales growth of 1.74% month-over-month and 7.24% year-over-year, indicating strong consumer spending amid low unemployment and decelerating inflation. Urban Outfitters reported a 10% increase in holiday sales for the two months ending December 31, with significant growth in its Free People and Anthropologie brands, although Urban Outfitters brand itself saw a decrease. Digital sales contributed to high single-digit growth in the retail segment, while the Nuuly segment experienced a remarkable 55% increase in sales due to a rise in subscribers. The overall retail environment reflects consumers' enthusiasm for holiday shopping, supported by stable financial conditions. Industry experts remain optimistic about retail forecasts for 2024.