Nuuly’s fashion rentals see URBN achieve 'record' sales

Feb 29, 2024 · Total company net sales increased 7.5% to a record £4.06 billion ($5.15 billion). In terms of brands, sales increased by 21.4% at Free People and 12.3% at Anthropologie. …

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Nuuly’s Fashion Rentals See URBN Achieve 'record' Sales

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Feb 29, 2024 · Total company net sales increased 7.5% to a record £4.06 billion ($5.15 billion). In terms of brands, sales increased by 21.4% at Free People and 12.3% at Anthropologie. …

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Fashion Rental Rebounds—Driven By Gen Z And Millennials - Forbes

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May 28, 2024 · Nuuly, a 5-year-old apparel rental business of lifestyle retailer Urban Outfitters, reported last week more than 50% annual sales growth for the first quarter ended April 30, …

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Urban Outfitters Reports Record Sales Thanks To Fashion Rental …

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Aug 22, 2024 · Total net sales increased 7% to a record £1.95 billion ($2.55 billion). Breaking it down by brands, net sales increased by 11.5% at Free People, 8.4% at Anthropologie and …

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URBN Reports Record Sales; Record Profits - Urban Outfitters, Inc.

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Total Company net sales for the three months ended October 31, 2021, were a record $1.13 billion. Net sales increased 14.6% compared to the three months ended October 31, 2019. …

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Nuuly’s Take On Rental Drives Growth For Urban Outfitters

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Oct 24, 2024 · Nuuly represents a relatively small slice of Urbn's total revenues, which grew 6.3 percent to $1.4 billion for the second quarter. But looked at another way, the rental platform …

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Urban Outfitters Takes On Rent The Runway With Nuuly (URBN)

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Mar 23, 2023 · Urban Outfitters Sees a $1 Billion Business in Taking On Rent the Runway Nuuly, started in 2019, already has 150,000 subscribers and $130 million in sales. By Olivia Rockeman

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Urban Outfitters’ Nuuly Rental Business Turns A Profit In Q3

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Nov 27, 2023 · Sales at Urban Outfitters’ rental and resale business Nuuly helped push the apparel conglomerate’s Q3 sales up 9% year over year to $1.28 billion. Nuuly’s own sales …

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Behind URBN’s $1.27B Q2 Sales Is Nuuly’s 94% Growth, 16

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Aug 24, 2023 · The Free People Group’s net sales rose 22.0% to $331.2 million, driven by double-digit ‘comp’ sales in-store and online. Nuuly, an outfit rental service, saw net revenues …

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The Retailer That Finally Got Rental Right | BoF - The Business Of …

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Nov 1, 2023 · The Retailer That Finally Got Rental Right. Urban Outfitters has spent over $100 million building Nuuly, a competitor to Rent the Runway that stocks more casual clothing. Four …

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After A Successful 2019 Rental Service Launch, Urban Outfitters Is ...

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Aug 24, 2021 · Courtesy of Nuuly. After launching Nuuly, a subscription clothing rental service in 2019, Urban Outfitters Inc. URBN +1.1% is launching Nuuly Thrift, a resale platform for buying …

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Urban Outfitters Q2: Nuuly's Growth Is Exciting (Rating Upgrade)

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Aug 23, 2024 · The brand seems to be losing ground against the market – Urban Outfitters sales declined -8.6% year-on-year into $316.7 million, with the larger Anthropologie brand showing …

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FAQs about Nuuly’s fashion rentals see URBN achieve 'record' sales Coupon?

What is nuuly & how can it help Urban Outfitters Inc?

Nuuly's rental platform is scaling up and helping to propel Urban Outfitters Inc. forward, featuring clothes from Urbn, Anthropologie, Free People and more. ...

Is nuuly a profitable company?

Nuuly is getting there. In the second quarter, Nuuly’s operating income tallied $5.3 million — for a margin of 5.9 percent — and the business is on track to be profitable for the full year. Sales grew 62.6 percent to $90.7 million for the quarter while the number of active subscribers expanded by more than 25,000 to top 250,000. ...

Does nuuly sell clothes that can't be rented anymore?

Items that can’t be rented anymore are sold on the thrift section of Nuuly’s website or listed as “gently worn” in the sale sections of the company’s other e-commerce sites. The global market for clothing rentals is expected to double to $10 billion by 2026. Photographer: Michelle Gustafson/Bloomberg ...

Where is nuuly based?

It will be double the size of the facility in Levittown, Pennsylvania, which is about 20 miles northeast of Philadelphia—home to the parent company’s headquarters and origin story. “There's just so much untapped opportunity,” said Conforti, a 15-year company veteran who sees the potential to expand Nuuly into men’s clothing and other countries. ...

Did nuuly have a leg up on Urban Outfitters?

“Because of that infrastructure, Nuuly had a leg up on the business,” said Janet Kloppenburg, retail analyst at JJK Research. Urban Outfitters’ approach is rare in the fashion industry, where most brands that offer rental do so through a third-party provider, such as CaaStle, which operates the entire service. ...

Is nuuly a big bet on renting?

Now the retailer, which owns the Urban Outfitters, Anthropologie and Free People chains, is quickly scaling what was already one of the apparel industry’s biggest bets on renting. Nuuly has 150,000 subscribers—more than Rent the Runway had at the end of October. Its revenue surged 170% last year to $130 million. ...