Urban Outfitters Inc. (URBN) reported all-time highs for second-quarter sales, operating income and earnings per share, extending its record streak to eight consecutive quarters. Net sales for the three months ended July 31, 2026, rose 10% to $1.7 billion, diluted earnings per share increased 9% to $1.72, operating income climbed 11% to $193 million and net income reached $149 million. Every retail brand posted positive comparable sales, with the retail segment up 6%. The FP Group led growth, with revenue up 15%, while FP Movement revenue surged 26% and its retail comparable sales rose 13%. Nuuly, the company's subscription rental business, grew revenue 29% to $179 million and reached 484,000 average active subscribers. Management expects continued high-single-digit sales growth for the fiscal year, approximately $475 million in capital expenditures and about 54 store openings against 18 closures in fiscal 2027. Tariffs, fuel surcharges and freight costs remain pressures, although the company expects third-quarter gross margin to improve by 25 to 50 basis points from the prior year.