Urban Outfitters Surpasses Q1 Expectations, Stock Rises

Strength in Free People, Anthropologie, and Nuuly brands offsets decline in namesake brand sales.

Urban Outfitters reported Q1 earnings of 69 cents per share, beating the forecast of 52 cents.
Revenue grew by 7.8% to $1.2 billion, exceeding the expected $1.18 billion.
Free People and Anthropologie saw sales increases of 17.1% and 10.4%, respectively.
Nuuly's sales surged by 51.4%, driven by a significant rise in active subscribers.
Despite a 13.7% decline in Urban Outfitters brand sales, overall consumer demand remains strong.