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Urban Outfitters reported record first-quarter net income of $115.7 million, or $1.30 per diluted share, as total net sales rose 11.4% to $1.48 billion for the three months ended April 30, 2026.
Earnings per share beat analyst expectations of $1.14, according to the Wall Street Journal. Revenue also topped the consensus estimate of $1.46 billion, according to the Wall Street Journal.
Growth was spread evenly across the company's three segments. Retail net sales reached $1.22 billion, an 8% increase, supported by comparable retail net sales growth of 5.6% — a result of high single-digit gains in digital channel sales and mid single-digit gains in stores, the company said. Nuuly, the company's apparel rental service, drove subscription segment net sales up 34.5%, and the wholesale segment added 24.8%.
The Free People group was a standout performer. The segment, which includes the Free People brand and its activewear division FP Movement, posted 17% sales growth in the quarter, according to the Wall Street Journal. Harrington, who oversees both the Free People group and the Urban Outfitters brand, described the quarter as exceptionally strong, pointing to record-low markdown rates and gains spread across the full merchandise assortment.
