Urban Outfitters, Inc. · NASDAQ:URBN
Urban Outfitters — Q4 2025 Earnings Presentation
22 slides from Urban Outfitters's earnings presentation, Feb 26, 2025
Slide 1: FY'25 Q4 Results
Urban Outfitters, Inc. F Y ’ 25 Q4 RESULTS
Slide 2: Introduction
Introduction Urban Outfitters, Inc. “URBN” is providing fiscal 2025 fourth quarter commentary ahead of our earnings call scheduled for February 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.
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 net sales for the fourth quarter increased by 10% to a record $1.64 billion. URBN adjusted net sales for the fourth quarter increased by 9%. The increase in January 31, 2025 January 31, 2024 adjusted net sales was due to a 6% increase in Retail segmen
Slide 6: Sales by Segment
Sales by Segment Three Months Ended URBN Retail segment sales increased 6% to $1.45 billion, ($ in millions) Variance (unaudited) with Retail segment comparable sales increasing 5%. January 31, 2025 January 31, 2024 $ % Comparable sales increased due to high single-digit positive growth in digital c
Slide 7: Revenue Metrics (Anthropologie)
Revenue Metrics Three Months Ended Total Anthropologie sales increased 9% to $743 million for ($ in millions) Variance (unaudited) the quarter. January 31, 2025 January 31, 2024 $ % Retail segment sales increased 9%, with comparable sales Total Sales $ 743.0 $ 679.5 $ 63.5 9% increasing 8%. The incr
Slide 8: Revenue Metrics (Free People)
Revenue Metrics Three Months Ended Total Free People sales increased by 13% to $411 million for the ($ in millions) Variance (unaudited) quarter. This increase was due to an increase in Retail segment January 31, 2025 January 31, 2024 $ % sales of 11% and an increase in Wholesale segment sales of 27
Slide 9: Revenue Metrics (Urban Outfitters)
Revenue Metrics Three Months Ended Total Urban Outfitters sales decreased by 3% to $360 million ($ in millions) Variance (unaudited) for the quarter. January 31, 2025 January 31, 2024 $ % Retail segment sales decreased 3%, with comparable sales also Total Sales $ 360.2 $ 372.6 $ (12.4) (3%) decreasi
Slide 10: Revenue and Subscription Metrics
Revenue and Subscription Metrics Three Months Ended ($ in millions) Variance (unaudited) January 31, 2025 January 31, 2024 $ % Total Sales $ 112.5 $ 63.1 $ 49.4 78% Total Adjusted Sales(a) $ 112.5 $ 72.3 $ 40.2 56% Nuuly Subscribers Subscription segment adjusted sales for the fourth quarter increase
Slide 11: Adjusted Gross Profit by Segment
Adjusted Gross Profit by Segment Three Months Ended Adjusted gross profit dollars increased by 17% to $528 million for ($ in millions) Variance (unaudited) the quarter, while adjusted gross profit rate increased 203 bps to January 31, 2025 January 31, 2024 $ % 32.3%. The increase in adjusted gross p
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 $402 million while SG&A as a percentage of adjusted net January 31, 2025 January 31, 2024 $ % sales leveraged by 18 bps to 24.6%. The leverage in selling,
Slide 13: Adjusted Operating Income by Segment
Adjusted Operating Income by Segment Three Months Ended Adjusted operating income dollars increased by 54% ($ in millions) Variance (unaudited) to $125 million while adjusted operating income rate January 31, 2025 January 31, 2024 $ % increased by 221 bps to 7.7%. The increase in dollars was primari
Slide 14: Income Statement Summary (January 31, 2025)
Income Statement Summary ($ in millions) Three Months Ended January 31, 2025 (share count in millions) The adjusted effective tax (unaudited) rate for the fourth quarter As Reported % of Net Sales Total Adjustments Adjusted % of Net Sales of both fiscal 2025 and Net Sales $ 1,636.1 100.0 % $ – $ 1,6
Slide 15: Income Statement Summary (January 31, 2024)
Income Statement Summary ($ in millions) Three Months Ended January 31, 2024 (share count in millions) (unaudited) As Reported % of Net Sales Total Adjustments Adjusted % of Adjusted Net Sales Net Sales(a) $ 1,486.2 100.0 % $ 9.2 $ 1,495.4 100.0% Cost of Sales (excluding Store Impairment and Lease A
Slide 16: Balance Sheet Summary
Balance Sheet Summary ($ in millions) As of January 31, 2025, cash and (unaudited) January 31, 2025 January 31, 2024 marketable securities totaled $1.02 billion with $0 drawn down on our Assets $350 million asset backed line of Cash and Cash Equivalents $ 290 $ 178 credit facility. Marketable Securi
Slide 17: Cash Flows Summary
Cash Flows Summary ($ in millions) Twelve Months Ended (unaudited) January 31, 2025 January 31, 2024 Cash Flows from Operating Activities Net Income $ 402 $ 288 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation & Amortization 115 1 02 Inventory (73) 39 Pay
Slide 18: Inventory Data
Inventory Data ($ in millions) (unaudited) Cost Variance January 31, 2025 January 31, 2024 $ % URBN Total Inventory $ 621.1 $ 550.2 $ 70.9 13% Retail Segment Total Inventory $ 556.5 $ 505.2 $ 51.3 10% Retail Segment Comparable Inventory by Brand 443.3 398.2 45.1 11% Anthropologie 226.2 197.7 28.5 14
Slide 19: 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 fourth quarter, capital expenditures were $39 million while depreciation & amortization w
Slide 20: Shares Outstanding
Shares Outstanding ($ 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 21: Global Retail Stores Summary
Global Retail Stores Summary YTD FY’25 Projected FY’26 Projected Open as of Open as of Projected Projected Open as of January 31, 2024 Openings Closings January 31, 2025 Openings Closings January 31, 2026 Anthropologie NA 218 13 9 222 14 2 234 Anthropologie EU 19 – 2 17 1 – 18 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‘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