Lifestyle retailer Urban Outfitters (URBN) reported quarterly earnings last week.

CE Global Transact data was very predictive of their total Q1-reported revenue growth, with a reported +6% total revenue increase, above consensus expectations of +4%.

CE Global Transact also provides insights into brand-level performance for Anthropologie, Free People, and Urban Outfitters. This brand-level data showed the continued weakness in the Urban Outfitters brand being offset by strong growth in the Anthropologie and Free People brands. This strength in brands that focus on dressier fashion echoes commentary from April’s Commerce Department data which shows Americans are spending more on outside-the-house activities like dining out while cutting spending on big-ticket household items like appliances and furniture.

URBN Brand-Level Growth

Of particular note is NUULY, URBN’s small but rapidly growing clothing-rental service. CE US Transact data reflected the strong subscriber growth URBN management highlighted at the beginning of the 1Q24 earnings call.  

Nuuly Subscriber Growth

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Michael Gunther is the VP Head of Insights for the CEIC. Explore more of his insights here and follow him on LinkedIn.