Urban Outfitters, Inc. · NASDAQ:URBN
Urban Outfitters — Q3 2025 Earnings Presentation
20 slides from Urban Outfitters's earnings presentation, Nov 26, 2024
Slide 1: Urban Outfitters, Inc. FY'25 Q3 Results
Urban Outfitters, Inc. F Y ’ 25 Q3 RESULTS
Slide 2: Introduction
Introduction Urban Outfitters, Inc. “URBN” is providing fiscal 2025 third quarter commentary ahead of our earnings call scheduled for November 26th at 5:15pm. We remind you that any forward-looking statements made in this commentary are subject to our safe harbor statement found in our SEC filings.
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 third quarter increased by 6% to a record $1.36 billion. The increase in sales was due to a 3% increase in Retail segment sales, a 48% increase in October 31, 2024 October 31, 2023 Nuuly segment sales and a 17% increase in Wholesale segm
Slide 5: Sales by Segment
Sales by Segment Three Months Ended Total Company or URBN sales for the third quarter increased ($ in millions) Variance (unaudited) by 6% to a record $1.36 billion. URBN Retail segment sales October 31, 2024 October 31, 2023 $ % increased 3% to $1.18 billion, with Retail segment comparable sales in
Slide 6: Revenue Metrics (Anthropologie)
Revenue Metrics Three Months Ended Total Anthropologie sales increased 7% to $588 million for ($ in millions) Variance (unaudited) the quarter. October 31, 2024 October 31, 2023 $ % Retail segment sales increased 7%, with comparable sales Total Sales $ 587.9 $ 549.8 $ 38.1 7% increasing 6%. The incr
Slide 7: Revenue Metrics (Free People)
Revenue Metrics Three Months Ended Total Free People sales increased by 10% to $366 million ($ in millions) Variance (unaudited) for the quarter. This increase was due to an increase in October 31, 2024 October 31, 2023 $ % Retail segment sales of 8% and a 20% increase in Wholesale segment sales. To
Slide 8: Revenue Metrics (Urban Outfitters)
Revenue Metrics Three Months Ended Total Urban Outfitters sales decreased by 7% to $301 million ($ in millions) Variance (unaudited) for the quarter. October 31, 2024 October 31, 2023 $ % Retail segment sales decreased 7%, with comparable sales Total Sales $ 300.6 $ 324.4 $ (23.8) (7%) decreasing 9%
Slide 9: Revenue and Subscription Metrics
Revenue and Subscription Metrics Three Months Ended ($ in millions) Variance (unaudited) October 31, 2024 October 31, 2023 $ % Total Sales $ 97.2 $ 65.5 $ 31.7 48% Nuuly Subscribers Nuuly segment sales for the third quarter increased by 48% to $97 million primarily 300,000 driven by a 51% increase i
Slide 10: Gross Profit by Segment
Gross Profit by Segment Three Months Ended Gross profit dollars increased by 9% to $497 million for the ($ in millions) Variance (unaudited) quarter, while gross profit rate increased 105 bps to 36.5%. October 31, 2024 October 31, 2023 $ % The increase in gross profit rate was primarily due to highe
Slide 11: SG&A–Total Company
SG&A–Total Company Three Months Ended SG&A expenses increased by 7% to $369 million while SG&A ($ in millions) Variance (unaudited) expenses as a percentage of sales deleveraged by 11 bps to 27.1%. October 31, 2024 October 31, 2023 $ % The deleverage in SG&A expenses as a percentage of sales was pri
Slide 12: Operating Income by Segment
Operating Income by Segment Three Months Ended Operating income dollars increased by 18% to $129 million ($ in millions) Variance (unaudited) while operating income rate increased by 94 bps to 9.4%. October 31, 2024 October 31, 2023 $ % The increase in operating income dollars was primarily driven b
Slide 13: Income Statement Summary
Income Statement Summary ($ in millions) Three Months Ended The effective tax rate was 24% in (share count in millions) both the third quarter of fiscal 2025 (unaudited) October 31, 2024 % of Net Sales October 31, 2023 % of Net Sales and the third quarter of fiscal 2024. Net Sales $ 1,361.9 100.0% $
Slide 14: Balance Sheet Summary
Balance Sheet Summary ($ in millions) As of October 31, 2024, cash and (unaudited) October 31, 2024 October 31, 2023 marketable securities totaled $763 million with $0 drawn down on our Assets $350 million asset backed line of Cash and Cash Equivalents $ 183 $ 206 credit facility. Marketable Securit
Slide 15: Cash Flows Summary
Cash Flows Summary ($ in millions) Nine Months Ended (unaudited) October 31, 2024 October 31, 2023 Cash Flows from Operating Activities Net Income $ 282 $ 240 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation & Amortization 86 75 Inventory (242) (135) Pay
Slide 16: Inventory Data
Inventory Data ($ in millions) Cost Variance (unaudited) October 31, 2024 October 31, 2023 $ % URBN Total Inventory $ 793.3 $ 721.0 $ 72.3 10% Retail Segment Total Inventory $ 734.9 $ 679.8 $ 55.1 8% Retail Segment Comparable Inventory by Brand 585.7 564.8 $ 20.9 4% Anthropologie 306.4 282.2 24.2 9%
Slide 17: Capital Spending
Capital Spending ($ in millions) (unaudited) Net Capex % of Net Sales $ 300 5.8% $ 250 Home Office 4.2% 3.9% $ 200 Fulfillment $ 150 Technology $ 100 Stores $ 50 FY’ 22 FY’ 23 FY’ 24 Projected FY’ 25 During the third quarter, capital expenditures were $45 million while depreciation & amortization wa
Slide 18: Shares Outstanding
Shares Outstanding ($ in millions) (share count in millions) (unaudited) 140 130 120 110 100 90 FY ’20 FY ’21 FY ’22 FY ’23 FY ’24 FY ’25 Shares Repurchased Number of Shares 8.1 0.5 2.0 4.7 – 1.2 Total Cost $ 217 $7 $ 56 $ 112 – $ 52 The Company did not repurchase any shares during the quarter. The
Slide 19: Global Retail Stores Summary
Global Retail Stores Summary Q1–Q3 FY’25 Q4 FY’25 Projected Open as of Open as of Projected Projected Open as of January 31, 2024 Openings Closings October 31, 2024 Openings Closings January 31, 2025 Anthropologie NA 218 9 2 225 4 6 223 Anthropologie EU 19 – 2 17 – – 17 Total Anthropologie 237 9 4 2
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‘24 Q1 Store Count 237 193 260 10 700 Selling SF 1,805 404 2,249 n/a 4,458 Q2 Store Count 237 196 264 11 708 Selling SF 1,806 407 2,275 n/a 4,488 Q3 Store Count 239