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Urban Outfitters Sales Rise 10% on Free People Growth

Wall Street Journal US Business •
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Urban Outfitters’ second-quarter profit and sales gained as its Free People brand continues to grow. The apparel retailer on Wednesday posted a profit of $240.7 million, or $2.78 a share, up from $143.9 million, or $1.58 a share, a year earlier. Adjusted earnings per share were $1.72, in line with analyst estimates, according to Fact Set. The figure excludes factors like one-time benefits from tariff refunds, the company said.

Sales rose 10% to $1.66 billion, compared with analyst estimates of $1.65 billion. By segment, Urban’s retail sales rose 8% to $1.39 billion, with comparable sales growth led by its Free People group, followed by its namesake brand and Anthropologie. Subscription sales—which includes Nuuly, the company’s apparel subscription rental service—climbed 29%.

Sales in the wholesale segment, meanwhile, increased 19% as the company’s Free People group had higher sales to specialty customers and department stores.