Urban Outfitters, Inc. · NASDAQ:URBN
Urban Outfitters — Q4 FY2026 Earnings Presentation
22 slides from Urban Outfitters's earnings presentation, February 2026
Slide 1: FY'26 Q4 Results
Urban Outfitters, Inc. F Y ’ 26 Q4 RESULTS
Slide 2: Introduction
Introduction Urban Outfitters, Inc. “URBN” is providing fiscal 2026 fourth quarter commentary ahead of our earnings call scheduled for February 25th 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.
Slide 3: Important Information Regarding Non-GAAP Financial Measures
Important Information Regarding Non-GAAP Financial Measures In addition to evaluating the financial condition and results of our operations in accordance with U.S. generally accepted accounting principles (“GAAP”), from time to time our management evaluates and analyzes results and any impact on the
Slide 4: Table of Contents
Table of Contents Key Financial Highlights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Sales by Segment. . . . . . . . . . . . . . . .
Slide 5: Key Financial Highlights
Key Financial Highlights Three Months Ended URBN sales for the fourth quarter increased by 10% to a record $1.80 billion. The increase in sales was due to an 8% increase in Retail segment sales, a 43% increase January 31, 2026 January 31, 2025 in Subscription segment sales and a 9% increase in Whole
Slide 6: Sales by Segment
Sales by Segment Three Months Ended Total Company or URBN sales for the fourth quarter ($ in millions) Variance (unaudited) increased by 10% to a record $1.80 billion. URBN Retail January 31, 2026 January 31, 2025 $ % segment sales increased 8% to $1.57 billion, with Retail segment comparable sales
Slide 7: Revenue Metrics
Revenue Metrics Three Months Ended Total Anthropologie sales increased by 4% to $775 million for ($ in millions) Variance (unaudited) the quarter. January 31, 2026 January 31, 2025 $ % Retail segment sales increased by 4%, with comparable sales also Total Sales $ 774.9 $ 743.0 $ 31.9 4% increasing 4
Slide 8: Revenue Metrics
Revenue Metrics Three Months Ended Total Free People sales increased by 10% to $451 million for ($ in millions) Variance (unaudited) the quarter. The increase was due to an increase in Retail January 31, 2026 January 31, 2025 $ % segment sales of 10% and a 10% increase in Wholesale segment sales. To
Slide 9: Revenue Metrics
Revenue Metrics Three Months Ended Total Urban Outfitters sales increased by 12% to $405 million ($ in millions) Variance (unaudited) for the quarter. January 31, 2026 January 31, 2025 $ % Retail segment sales increased by 13%, with comparable sales Total Sales $ 405.1 $ 360.2 $ 44.9 12% increasing
Slide 10: Revenue and Subscription Metrics
Revenue and Subscription Metrics Three Months Ended ($ in millions) Variance (unaudited) January 31, 2026 January 31, 2025 $ % Total Sales $ 160.5 $ 112.5 $ 48.0 43% Nuuly Subscribers Subscription segment sales for the fourth quarter increased by 43% to $161 million 400,000 primarily driven by a 40%
Slide 11: Gross Profit by Segment
Gross Profit by Segment Three Months Ended Gross profit dollars increased by 14% to a record $599 million for ($ in millions) Variance (unaudited) the quarter, while the gross profit rate increased 101 bps to 33.3%. January 31, 2026 January 31, 2025 $ % The increase in gross profit rate was primaril
Slide 12: SG&A–Total Company
SG&A–Total Company Three Months Ended Selling general & administrative (‘ SG& A’) expenses increased by ($ in millions) Variance (unaudited) 9% to $441 million while SG& A expenses as a percentage of net January 31, 2026 January 31, 2025 $ % sales leveraged 14 bps to 24.5%. The leverage in SG& A exp
Slide 13: Operating Income by Segment
Operating Income by Segment Three Months Ended Operating income dollars increased by 27% to a record ($ in millions) Variance (unaudited) $159 million while the operating income rate leveraged January 31, 2026 January 31, 2025 $ % 115 bps to 8.8%. The increase in operating income dollars was primari
Slide 14: Income Statement Summary
Income Statement Summary ($ in millions) Three Months Ended January 31, 2026 (share count in millions) The adjusted effective (unaudited) tax rate for the fourth As Reported % of Net Sales Total Adjustments Adjusted % of Net Sales quarter of fiscal 2026 Net Sales $ 1,801.8 100.0 % $ – $ 1,801.8 100.
Slide 15: Income Statement Summary
Income Statement Summary ($ in millions) Three Months Ended January 31, 2025 (share count in millions) (unaudited) As Reported % of Net Sales Total Adjustments Adjusted % of Net Sales Net Sales $ 1,636.1 100.0 % $ – $ 1,636.1 100.0% Cost of Sales 1,108.4 67.7 – 1,108.4 67.7 Gross Profit 527.7 32.3 –
Slide 16: Balance Sheet Summary
Balance Sheet Summary ($ in millions) As of January 31, 2026, cash and (unaudited) January 31, 2026 January 31, 2025 marketable securities totaled $1.16 billion with $0 drawn down on our Assets $350 million asset backed line of Cash and Cash Equivalents $ 369 $ 290 credit facility. Marketable Securi
Slide 17: Cash Flows Summary
Cash Flows Summary ($ in millions) Twelve Months Ended (unaudited) January 31, 2026 January 31, 2025 Cash Flows from Operating Activities Net Income $ 465 $ 402 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation & Amortization 129 115 Inventory (73) (73) Pa
Slide 18: Inventory Data
Inventory Data ($ in millions) (unaudited) Cost Variance January 31, 2026 January 31, 2025 $ % URBN Total Inventory $ 700.9 $ 621.1 $ 79.8 13% Retail Segment Total Inventory $ 630.8 $ 556.5 $ 74.3 13% Retail Segment Comparable Inventory by Brand 473.5 449.5 24.0 5% Anthropologie 246.7 229.5 17.2 7%
Slide 19: Capital Spending
Capital Spending ($ in millions) (unaudited) Net Capex % of Net Sales $ 400 $ 350 Home Office $ 300 4.2% Fulfillment $ 250 3.9% $ 200 3.3% Technology $ 150 $ 100 Stores $ 50 $ 0 FY’ 24 FY’ 25 FY’ 26 Projected FY’ 27 During the fourth quarter, capital expenditures were $69 million while depreciation
Slide 20: Shares Outstanding
Shares Outstanding ($ 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 $ 154 During the fourth quarter, the Company repurchased 34 thousand shar
Slide 21: Global Retail Stores Summary
Global Retail Stores Summary YTD FY’26 Projected FY’27 Projected Open as of Open as of Projected Projected Open as of January 31, 2025 Openings Closings January 31, 2026 Openings Closings January 31, 2027 Anthropologie NA 222 13 1 234 12 3 243 Anthropologie EU 17 3 – 20 2 – 22 Total Anthropologie 23
Slide 22: 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 242 216