10-Q · June 9, 2026
Urban Outfitters reported a solid Q1 2027 with revenue reaching $1.48 billion, surpassing expectations and showing a significant increase from $1.33 billion in Q1 2026. EPS also beat estimates at $1.30, reflecting…
Earnings analysis · 10-Q
URBN earnings analysis
Filed September 9, 2026 · Our reading of the company's report
The latest report
URBN delivered record second-quarter revenue of $1.662 billion and adjusted diluted EPS of $1.72, both modestly above consensus, with strong reported gross and operating margins of 43.4% and 17.4%. Subscription and…
Read full summary
URBN delivered record second-quarter revenue of $1.662 billion and adjusted diluted EPS of $1.72, both modestly above consensus, with strong reported gross and operating margins of 43.4% and 17.4%. Subscription and Wholesale sales grew 28.6% and 18.6%, respectively, supporting broad-based operating momentum. However, GAAP EPS of $2.78 was materially aided by a one-time $95.660 million tariff refund, and the company provided no forward revenue or EPS guidance. The 10-Q reported no material risk-factor changes since January 31, 2026.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.78
- Segment
- Subscription sales increased 28.6% year over year.
- Segment
- Wholesale sales increased 18.6% year over year.
- Segment
- Growth was broad-based across the company’s retail comparable-sales businesses.
What stood out
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Record sales and modest earnings beat
Second-quarter revenue reached a record $1.662 billion, approximately 0.8% above the $1.650 billion consensus estimate. Adjusted diluted EPS was $1.72 versus the $1.71 estimate.
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Tariff refund lifted GAAP EPS
GAAP diluted EPS was $2.78, materially above adjusted diluted EPS of $1.72, primarily reflecting a $95.660 million one-time IEEPA tariff refund.
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Strong reported profitability
GAAP gross margin was 43.4% and operating margin was 17.4%, indicating strong year-over-year profitability in the reported quarter.
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Subscription and wholesale accelerated
Subscription sales increased 28.6% year over year and Wholesale sales increased 18.6%, with growth described as broad-based across the company’s retail comparable-sales businesses.
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No control deficiencies identified
The company stated that its disclosure controls and procedures were effective, and reported no changes during the three months ended July 31, 2026 that materially affected, or were reasonably likely to materially affect, internal controls.
What to watch
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One-time tariff benefit
The $95.660 million IEEPA tariff refund materially benefited GAAP diluted EPS of $2.78; the one-time nature of the refund limits its usefulness as an indicator of recurring earnings power.
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Limited forward visibility
The filing provides no quantitative revenue or EPS outlook, while the previously stated FY2027 capital expenditure plan remains approximately $475 million. The absence of updated guidance limits visibility as investment spending continues.
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No risk-factor update
Management states there have been no material changes in risk factors since January 31, 2026. Accordingly, the 10-Q does not provide new disclosure on existing risks, including inventory, markdown, tariff, or operating-investment exposure.
Management's outlook
No forward revenue or EPS guidance was provided. Management did not update the prior FY2027 capital expenditure plan of approximately $475 million.
Earlier filings 4
10-K · April 1, 2026
Urban Outfitters reported fiscal 2026 net sales of approximately $6.2 billion, driven primarily by its Retail segment which accounted for ~85.7% of consolidated net sales. The company is expanding its omni‑channel…
10-Q · December 10, 2025
Urban Outfitters reported quarter net sales of $1,529,350,000 and diluted EPS of $1.28 for the three months ended October 31, 2025, each up versus the prior-year quarter. Gross profit expanded to $563,327,000 and the…
10-Q · September 9, 2025
Urban Outfitters reported a strong quarter with net sales of $1,504,755,000 (three months ended July 31, 2025), up $152,796,000 (11.3%) vs. $1,351,959,000 a year ago, and diluted EPS of $1.58 (vs. $1.24). Gross profit…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.