Urban Outfitters Exceeds Revenue and Earnings Expectations in Fiscal Q1

Urban Outfitters reported earnings per share of 56 cents and revenue of $1.11 billion, beating analysts' estimates.
The company saw increases in sales and margins despite inflation and supply chain issues weighing on results last fiscal year.
The Anthropologie and Free People brands drove sales growth while the namesake Urban Outfitters brand declined.
Nuuly, Urban Outfitters' clothing rental service, saw subscribers more than double and sales increase 125% from a year ago.
Urban Outfitters' stock price is projected to remain largely unchanged as the results were in line with expectations.