Why Urban Outfitters Stock Is Rising After Hours – Urban Outfitters (NASDAQ:URBN)

Urban Outfitters, Inc. URBN shares are trading higher in Monday’s after-hours session after the company reported a 10% increase in total company net sales for the two months ended Dec. 31, 2023.

What To Know: After the close of the market on Monday, Urban Outfitters announced net sales for the two and 11 months ended Dec. 31, 2023.

In addition to the 10% increase in net sales, the company also reported that Total Retail segment net sales increased 8%, with comparable Retail segment net sales increasing 6%.

For the 11 months ended Dec. 31, 2023, total company net sales increased 8% compared to the 11 months ended Dec. 31, 2022. During the same time period, the company opened a total of 26 new retail locations as well.

Urban Outfitters also announced that Shea Jensen will be joining as president of Urban Outfitters Brand, North America as of Feb. 5 in which she will oversee merchandising, marketing, digital and retail operations for the Urban Outfitters brand in North America.

URBN Price Action: Shares of Urban Outfitters were up 5.82% at $37.99 in the after-hours session at the time of publication, according to Benzinga Pro.

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Image by Ranjat M from Pixabay

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