Urban Outfitters (URBN) Goldman Sachs Global Consumer and Retail Conference summary

Performance highlights

• Achieved 10% top-line growth to $1.7 billion, with all retail brands comp positive and record operating profit for the quarter.

• Free People and Nuuly delivered standout growth, with Nuuly up 29% and Free People at 10%.

• Eight consecutive quarters of record sales and operating profits, driven by the strength and diversification of the brand portfolio.

• Diversified channels and age demographics provide resilience and multiple growth levers.

Anthropologie brand outlook

• Leadership and team strategies have driven 22 quarters of positive comp growth and nearly four years of double-digit operating profit rate.

• Brand is transitioning product assortment, with digital channels showing early strength and stores following.

• Margins are expected to be in the low teens this year, with a path back to mid-teens as markdowns normalize and tariffs become more favorable.

• Confidence in returning to mid-single digit comp growth, supported by strong fashion cycles and agile team execution.

Nuuly growth and technology

• Nuuly surpassed 500,000 subscribers, with a U.S. addressable market estimated at 15 million women aged 20–44.

• Significant untapped awareness and potential for further subscriber growth.

• Retention rates are higher than anticipated, aided by flexible subscription options.

• Technology and AI are enhancing personalization, search, and fit recommendations, improving customer experience.

• Data from Nuuly is shared across brands, benefiting the broader ecosystem.