Overview
- The company reported record first‑quarter results on Wednesday, May 20, with net sales up about 11% to roughly $1.5 billion and diluted EPS of $1.30.
- All retail brands delivered positive comparable‑store sales with Free People Group up about 9.8%, Urban Outfitters up about 9.3% and Anthropologie up about 1.9%, and digital sales growing faster than stores.
- Nuuly subscriptions drove a roughly 34–35% jump in subscription revenue as active subscribers rose by more than 110,000 versus last year.
- Wholesale revenue climbed about 25% led by FP Group sales to specialty customers, and gross profit dollars rose about 11% though the gross margin rate edged down slightly due to a prior‑year one‑time benefit.
- Management repurchased and retired 4.6 million shares for about $300 million, increased inventory about 9.5% to preposition against potential Middle East shipping delays, and said it is in the early stages of expanding AI across marketing and operations.