Urban Outfitters, Inc. · NASDAQ:URBN
Urban Outfitters — Q2 FY2027 Earnings Presentation
22 slides from Urban Outfitters's earnings presentation, Aug 26, 2026
Slide 1: FY'27 Q2 Results
Urban Outfitters, Inc. F Y ’ 27 Q2 RESULTS
Slide 2: Introduction
Introduction Urban Outfitters, Inc. “URBN” is providing fiscal 2027 second quarter commentary ahead of our earnings call scheduled for August 26th 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. O
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 th
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 second quarter increased by 10% to a record $1.66 billion. The increase in sales was due to an 8% increase in Retail segment sales, a 29% increase in Subscription segment July 31, 2026 July 31, 2025 sales and a 19% increase in Wholesale
Slide 6: Sales by Segment
Sales by Segment Three Months Ended Total Company or URBN sales for the second quarter increased by ($ in millions) Variance (unaudited) 10% to a record $1.66 billion. URBN Retail segment sales increased July 31, 2026 July 31, 2025 $ % by 8% to $1.39 billion, with Retail segment comparable sales inc
Slide 7: Revenue Metrics (Anthropologie)
Revenue Metrics Three Months Ended Total Anthropologie sales increased by 5% to $635 million for the ($ in millions) Variance (unaudited) quarter. July 31, 2026 July 31, 2025 $ % Retail segment sales increased by 5%, with comparable sales increasing 3%. The increase in Retail segment comparable sale
Slide 8: Revenue Metrics (FP Group)
Revenue Metrics Three Months Ended Total FP Group sales increased by 15% to $478 million for the ($ in millions) Variance (unaudited) quarter. The increase was due to an increase in Retail segment sales of 14% and a 19% increase in Wholesale segment sales. Total Free July 31, 2026 July 31, 2025 $ %
Slide 9: Revenue Metrics (Urban Outfitters)
Revenue Metrics Three Months Ended Total Urban Outfitters sales increased by 8% to $360 million for ($ in millions) Variance (unaudited) the quarter. July 31, 2026 July 31, 2025 $ % Retail segment sales increased by 8%, with comparable sales also Total Sales $ 360.0 $ 333.2 $ 26.8 8% increasing 8%.
Slide 10: Revenue and Subscription Metrics
Revenue and Subscription Metrics Three Months Ended ($ in millions) Variance (unaudited) July 31, 2026 July 31, 2025 $ % Total Sales $ 178.6 $ 138.9 $ 39.7 29% Nuuly Subscribers Subscription segment sales for the second 500,000 quarter increased by 29% to $179 million primarily driven by a 30% incre
Slide 11: Adjusted Gross Profit by Segment
Adjusted Gross Profit by Segment Three Months Ended Adjusted gross profit increased by 11% to $626 million for the quarter, ($ in millions) Variance (unaudited) while the adjusted gross profit rate increased 4 bps to 37.7%. The increase July 31, 2026 July 31, 2025 $ % in adjusted gross profit rate w
Slide 12: SG&A–Total Company
SG&A–Total Company Three Months Ended Selling, general & administrative (‘SG&A’) expenses increased by 10% ($ in millions) Variance (unaudited) to $433 million, while SG&A expenses as a percentage of net sales July 31, 2026 July 31, 2025 $ % were flat. The leverage in store payroll expenses due to t
Slide 13: Adjusted Operating Income by Segment
Adjusted Operating Income by Segment Three Months Ended Adjusted operating income increased by 11%, or $19 million, to ($ in millions) Variance (unaudited) $193 million for the quarter, while the adjusted operating income July 31, 2026 July 31, 2025 $ % rate remained essentially flat at 11.6%, up 3
Slide 14: Income Statement Summary
Income Statement Summary Three Months Ended July 31, 2026 The adjusted effective tax rate ($ in millions) (share count in millions) for the second quarter of fiscal (unaudited) 2027 was 25%, compared to an As Reported % of Net Sales Total Adjustments Adjusted % of Net Sales effective tax rate of 22%
Slide 15: Income Statement Summary
Income Statement Summary Three Months Ended ($ in millions) (share count in millions) (unaudited) July 31, 2025 % of Net Sales Net Sales $ 1,504.8 100.0% Cost of Sales 938.6 62.4 Gross Profit 566.2 37.6 Selling, General and Admin. Expenses 391.8 26.0 Income from Operations 174.4 11.6 Other Income, N
Slide 16: Balance Sheet Summary
Balance Sheet Summary ($ in millions) As of July 31, 2026, cash and (unaudited) July 31, 2026 July 31, 2025 marketable securities totaled $946 million with $0 drawn down on our Assets $350 million asset backed line of Cash and Cash Equivalents $ 599 $ 332 credit facility. Marketable Securities 117 2
Slide 17: Cash Flows Summary
Cash Flows Summary ($ in millions) Six Months Ended (unaudited) July 31, 2026 July 31, 2025 Cash Flows from Operating Activities Net Income $ 356 $ 252 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation & Amortization 74 61 Inventory (79) (71) Payables, Acc
Slide 18: Inventory Data
Inventory Data ($ in millions) (unaudited) Cost Variance July 31, 2026 July 31, 2025 $ % URBN Total Inventory $ 778.5 $ 696.2 $ 82.3 12% Retail Segment Total Inventory $ 711.5 $ 635.3 $ 76.2 12% Retail Segment Comparable Inventory by Brand 525.5 484.9 40.6 8% Anthropologie 266.9 257.1 9.8 4% FP Grou
Slide 19: Capital Spending
Capital Spending ($ in millions) (unaudited) Net Capex % of Net Sales $ 500 $ 450 Home Office $ 400 $ 350 Fulfillment $ 300 4.2% $ 250 3.9% Technology $ 200 3.3% $ 150 Stores $ 100 $ 50 $ 0 FY’ 24 FY’ 25 FY’ 26 Projected FY’ 27 During the second quarter, capital expenditures were $75 million while d
Slide 20: Shares Outstanding
Shares Outstanding ($ in millions) (share count in millions) (unaudited) 100 90 80 FY ’22 FY ’23 FY ’24 FY ’25 FY ’26 FY ’27 Shares Repurchased Number of Shares 2.0 4.7 – 1.2 3.3 4.6 Total Cost $ 56 $ 112 – $ 52 $ 154 $300 The Company did not repurchase any shares during the quarter. The Company has
Slide 21: Global Retail Stores Summary
Global Retail Stores Summary Q1–Q2 FY’27 Q3–Q4 FY’27 Projected Open as of Open as of Projected Projected Open as of January 31, 2026 Openings Closings July 31, 2026 Openings Closings January 31, 2027 Anthropologie NA 234 3 1 236 7 1 242 Anthropologie EU 20 1 – 21 1 2 20 Total Anthropologie 254 4 1 2
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 FPG * UO M&V URBN ** FY‘26 Q1 Store Count 241 237 257 9 744 Selling SF 1,802 480 2,172 n/a 4,454 Q2 Store Count 243 247 257 9 756 Selling SF 1,805 499 2,172 n/a 4,476 Q3 Store Count 248 2