Urban Outfitters (URBN) 28th Annual ICR Conference 2026 summary

Holiday and recent sales performance

• Achieved record holiday sales with 9% total sales growth and 5% retail segment comp, driven by positive comps across all brands and channels.

• Urban Outfitters led with a 9% retail segment comp, Free People at 5%, and Anthropologie at 3%, with FP Movement up 18% and Nuuly up 43%.

• Gross profit margin for the quarter expected to be up 25 basis points, nearing the high end of annual improvement targets.

• Post-holiday period saw strong regular price sales and positive consumer response across brands.

Consumer trends and outlook

• Middle-income and above consumers remain resilient, supported by low unemployment, wage growth, and a strong stock market.

• Positive consumer sentiment is expected to continue into 2026, with strong regular price sales and fashion trends.

• Anthropologie observed increased full-price sales and strong customer appetite for newness post-holiday.

Brand transformation and strategy

• Anthropologie has achieved 20 consecutive quarters of positive comps by attracting new customers while retaining core shoppers.

• Growth observed across all age cohorts, with increased engagement, higher units per transaction, and improved retention.

• Expansion into categories like denim, shoes, and beauty has increased brand relevancy and shopping frequency.

• The business model is seen as durable, with momentum expected to continue barring seasonal promotional pressures.