Urban Outfitters Reports 8.4 Decrease in Net Sales to Close 2020, Announces Leadership Changes

Philadelphia — Urban Outfitters reported an 8.4 percent sales decrease for the two months that ended Dec. 31, 2020 relative to that period in 2019.

The Philadelphia-based apparel retailer said that lower sales within its brick-and-mortar stores were partially offset by double-digit sales growth across the digital platforms of its family of brands, which includes Free People and Anthropologie Group. For the fiscal year 2020, the company’s net sales declined by 14.3 percent year-over-year, although the retailer did open 18 new stores over the last 12 months.

In addition, Urban Outfitters has announced that current CEO Trish Donnelly will be stepping down Jan. 31, 2021, after a seven-year stint with the company and will be replaced by Sheila Harrington.

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