Overview
- Net sales rose 12.3% to a record $1.53 billion and EPS reached $1.28, both above Wall Street expectations.
- Comparable Retail sales increased 8% with high single-digit gains in both digital and stores, and brand comps advanced at Urban Outfitters (+12.5%), Anthropologie (+7.6%) and Free People (+4.1%).
- Subscription revenue surged 48.7% on a 42.2% increase in average active subscribers year over year.
- Wholesale revenue grew 7.6%, driven by an 8.4% increase in Free People wholesale sales to specialty customers.
- Year to date, the company repurchased 3.3 million shares for about $152 million with 14.7 million shares remaining authorized and expanded its footprint with 41 openings and 6 closures, as the stock jumped roughly 15% after hours.