URBAN OUTFITTERS INC (URBN) Form 10-Q — Sep 9, 2026

$URBNForm 10-QFiled Sep 9, 2026, 4:17 PM ET0001193125-26-386468Original filing

Urban Outfitters' fiscal 2027 second quarter delivered net sales of $1.66 billion, up 10.4% from $1.50 billion a year ago, with net income of $240.7 million and diluted EPS of $2.78 versus $1.58 in the prior-year quarter. Roughly $100.1 million of the quarter's profit was one-time — refunds of previously paid IEEPA tariffs that lifted gross margin 576 basis points to 43.4% — and the tax rate was helped by a $16.2 million valuation allowance release. Underlying momentum still looks solid: retail comparable sales rose 6.2%, Nuuly subscription sales grew 28.6% on 30.4% more active subscribers, and wholesale sales climbed 18.6%.

Key figures

Eps: $2.78 diluted Q2 vs $1.58 prior-year quarter; $4.06 diluted for the six months
Revenue: $1.66B Q2 FY2027 ($3.14B first half)
Guidance: No formal sales/EPS guidance; approximately $475 million of fiscal 2027 capital expenditures and 54 planned new company-owned store openings, all funded from operations and existing cash
Net Income: $240.7M Q2 FY2027 vs $143.9M prior year; $356.4M six months
Total Debt: $0 borrowings under the $350M ABL revolver (matures May 2031)
Revenue Yoy: +10.4% Q2 YoY (1H +10.9%)
Total Assets: $5.12B
Cash Position: $945.5M cash, cash equivalents and marketable securities ($598.8M cash and equivalents)
Shares Outstanding: 85660181
Inventory: $778.5M, +11.8% YoY
Total Stores: 810
Gross Margin Q2: 43.4% vs 37.6% prior year (+580 bps, of which 576 bps from IEEPA tariff refunds)
Capex First Half: $268.1M (incl. purchase of Nuuly fulfillment center in Raymore, Missouri)
Retail Comp Sales Q2: +6.2% (FP Group +10.0%, Urban Outfitters +8.4%, Anthropologie Group +3.0%)
Effective Tax Rate Q2: 19.4% vs 21.5% (aided by $16.2M foreign valuation allowance release)
Wholesale Sales Growth Q2: +18.6%
Ieepa Tariff Refund Benefit: $100.1M one-time ($95.7M reduction of cost of sales, $4.4M interest income)
Share Repurchases First Half: $300.0M under the share repurchase program
Subscription Sales Growth Q2: +28.6%, driven by +30.4% average active Nuuly subscribers
Operating Cash Flow First Half: $391.7M

Price after filing

1 day: -2.6%7 days: -0.6%30 days: +4.4%

Close on the filing date to close N calendar days later (from $77.58). Historical, not a forecast.

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