Urban Outfitters, Inc. (NASDAQ: URBN) reported record second quarter sales on Tuesday, boosted by strong demand for its women’s apparel and home goods..
**Key Highlights**.
* **Net sales:** $1.4 billion, up 12.2% year-over-year and surpassing estimates of $1.33 billion..
* **Comparable sales:** Increased by 10% across all brands, driven by double-digit growth in both apparel and home..
* **Diluted earnings per share:** $0.67, exceeding expectations of $0.61..
* **Gross margin:** Improved to 38.4% from 37.2% last year..
* **Inventory:** Up 12.5% year-over-year, indicating strong demand..
**Brand Performance**.
* **Urban Outfitters:** Comparable sales rose by 13%, led by women’s apparel and accessories..
* **Anthropologie:** Comparable sales increased by 7%, driven by growth in home goods and apparel..
* **Free People:** Comparable sales surged by 15%, primarily due to strong demand for dresses and tops..
* **Nuuly:** The rental subscription service reported a 25% increase in subscribers..
**Outlook**.
Urban Outfitters expressed optimism about the remainder of the year, citing continued momentum across its brands and the strength of its inventory position. The company expects comparable sales growth in the mid-single digits for the third quarter..
**CEO Comments**.
Richard Hayne, Chief Executive Officer of Urban Outfitters, said: .
