Urban Outfitters

Q2 FY2027 EarningsQ2 FY27 delivered a significant beat across all major financial metrics, primarily driven by a one-time $100.1M IEEPA tariff refund. Net sales reached $1.66B, exceeding the $1.65B consensus, while Diluted EPS of $2.78 significantly outperformed the $1.70 mean estimate. Gross margin expanded to 43.4%, beating the 37.5% expectation, though this was largely due to the 576bps benefit from the tariff refund. Retail segment comparable net sales grew by 6.2%, underpinned by strong performance at Free People (+10.0%) and Urban Outfitters (+8.4%), while Nuuly subscription revenue surged 28.6% YoY.