Urban Outfitters, Inc. · NASDAQ:URBN
Urban Outfitters — Q1 2026 Earnings Presentation
20 slides from Urban Outfitters's earnings presentation, May 21, 2025
Slide 1: FY'26 Q1 Results
Urban Outfitters, Inc. F Y ’ 26 Q1 RESULTS
Slide 2: Introduction
Introduction Urban Outfitters, Inc. “URBN” is providing fiscal 2026 first quarter commentary ahead of our earnings call scheduled for May 21st at 5:00pm. We remind you that any forward-looking statements made in this commentary are subject to our safe harbor statement found in our SEC filings. Our f
Slide 3: Table of Contents
Table of Contents Key Financial Highlights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Sales by Segment. . . . . . . . . . . . . . . . .
Slide 4: Key Financial Highlights
Key Financial Highlights Three Months Ended URBN sales for the first quarter increased by 11% to a record $1.33 billion. The increase in sales was due to a 6% increase in Retail segment sales, a 60% increase in Subscription April 30, 2025 April 30, 2024 segment sales and a 24% increase in Wholesale
Slide 5: Sales by Segment
Sales by Segment Three Months Ended Total Company or URBN sales for the first quarter increased ($ in millions) Variance (unaudited) by 11% to a record $1.33 billion. URBN Retail segment sales April 30, 2025 April 30, 2024 $ % increased 6% to $1.13 billion, with Retail segment comparable sales incre
Slide 6: Revenue Metrics
Revenue Metrics Three Months Ended Total Anthropologie sales increased 8% to $570 million for ($ in millions) Variance (unaudited) the quarter. April 30, 2025 April 30, 2024 $ % Retail segment sales increased 8%, with comparable sales Total Sales $ 569.9 $ 526.4 $ 43.5 8% increasing 7%. The increase
Slide 7: Revenue Metrics
Revenue Metrics Three Months Ended Total Free People sales increased by 11% to $353 million for ($ in millions) Variance (unaudited) the quarter. This increase was due to an increase in Retail April 30, 2025 April 30, 2024 $ % segment sales of 8% and a 26% increase in Wholesale segment sales. Total
Slide 8: Revenue Metrics
Revenue Metrics Three Months Ended Total Urban Outfitters sales increased by 1% to $274 million ($ in millions) Variance (unaudited) for the quarter. April 30, 2025 April 30, 2024 $ % Retail segment sales increased 1%, with comparable sales Total Sales $ 273.5 $ 270.3 $ 3.2 1% increasing 2%. The inc
Slide 9: Revenue and Subscription Metrics
Revenue and Subscription Metrics Three Months Ended ($ in millions) Variance (unaudited) April 30, 2025 April 30, 2024 $ % Total Sales $ 124.4 $ 77.9 $ 46.5 60% Nuuly Subscribers Subscription segment sales for the first quarter increased by 60% to $124 million 350,000 primarily driven by a 53% incre
Slide 10: Gross Profit by Segment
Gross Profit by Segment Three Months Ended Gross profit dollars increased by 20% to $489 million for the quarter, while ($ in millions) Variance (unaudited) gross profit rate increased 278 bps to 36.8%. The gross profit rate benefited from a non-recurring gain of $5 million, or 36 basis points, reco
Slide 11: SG&A–Total Company
SG&A–Total Company Three Months Ended SG&A expenses increased by 8% to $361 million while SG&A ($ in millions) Variance (unaudited) expenses as a percentage of net sales leveraged by 65 bps to April 30, 2025 April 30, 2024 $ % 27.2%. The leverage in SG&A expenses as a percentage of net sales was pri
Slide 12: Operating Income by Segment
Operating Income by Segment Three Months Ended Operating income dollars increased by 72% to $128 ($ in millions) Variance (unaudited) million while operating income rate increased by 343 bps April 30, 2025 April 30, 2024 $ % to 9.6%. The increase in operating income dollars was primarily driven by t
Slide 13: Income Statement Summary
Income Statement Summary ($ in millions) Three Months Ended The effective tax rate was 21% in the (share count in millions) first quarter of fiscal 2026, compared (unaudited) April 30, 2025 % of Net Sales April 30, 2024 % of Net Sales to 24% in the first quarter of fiscal 2025. The decrease in the e
Slide 14: Balance Sheet Summary
Balance Sheet Summary ($ in millions) As of April 30, 2025, cash and (unaudited) April 30, 2025 April 30, 2024 marketable securities totaled $841 million with $0 drawn down on our Assets $350 million asset backed line of Cash and Cash Equivalents $ 189 $ 174 credit facility. Marketable Securities 28
Slide 15: Cash Flows Summary
Cash Flows Summary ($ in millions) Three Months Ended (unaudited) April 30, 2025 April 30, 2024 Cash Flows from Operating Activities Net Income $ 108 $ 62 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation & Amortization 30 28 Inventory (37) (30) Payables,
Slide 16: Inventory Data
Inventory Data ($ in millions) (unaudited) Cost Variance April 30, 2025 April 30, 2024 $ % URBN Total Inventory $ 663.8 $ 579.0 $ 84.8 15% Retail Segment Total Inventory $ 602.0 $ 531.7 $ 70.3 13% Retail Segment Comparable Inventory by Brand 495.5 440.0 55.5 13% Anthropologie 251.2 221.9 29.3 13% Fr
Slide 17: Capital Spending
Capital Spending ($ in millions) (unaudited) Net Capex % of Net Sales $ 300 $ 250 Home Office 4.2% 3.9% $ 200 Fulfillment 3.3% $ 150 Technology $ 100 Stores $ 50 FY’ 23 FY’ 24 FY’ 25 Projected FY’ 26 During the first quarter, capital expenditures were $46 million while depreciation & amortization wa
Slide 18: Shares Outstanding
Shares Outstanding ($ in millions) (share count in millions) (unaudited) 130 120 110 100 90 80 FY ’21 FY ’22 FY ’23 FY ’24 FY ’25 FY ’26 Shares Repurchased Number of Shares 0.5 2.0 4.7 – 1.2 3.3 Total Cost $7 $ 56 $ 112 – $ 52 $ 152 During the first quarter, the Company repurchased 3.3 million share
Slide 19: Global Retail Stores Summary
Global Retail Stores Summary Q1 FY’26 Q2–Q4 FY’26 Projected Open as of Open as of Projected Projected Open as of January 31, 2025 Openings Closings April 30, 2025 Openings Closings January 31, 2026 Anthropologie NA 222 2 – 224 12 2 234 Anthropologie EU 17 – – 17 2 1 18 Total Anthropologie 239 2 – 24
Slide 20: Global Store Count & Square Footage
Global Store Count & Square Footage (all data is as of the respective period ended) (Selling SF in thousands) AN FP * UO M&V URBN ** FY‘25 Q1 Store Count 238 199 264 9 710 Selling SF 1,808 413 2,260 n/a 4,481 Q2 Store Count 239 205 263 9 716 Selling SF 1,812 428 2,249 n/a 4,489 Q3 Store Count 242 21