Urban Outfitters Stock Jumps as 'Remarkably Resilient' Consumer Drives Sales

Core Insights - Urban Outfitters reported a record revenue of $1.36 billion for the third quarter, surpassing both last year's$1.28 billion and analysts' expectations of $1.34 billion [2] - The company achieved a net income of$102.9 million, an increase from $83 million a year ago and above the projected$78.9 million [3] - Comparable store sales rose 1.5% year-over-year, driven by significant growth at Anthropologie (5.8%) and Free People (5.3%), while Urban Outfitters brand sales fell by 8.9% [4] Sales Performance - Urban Outfitters' sales are declining, particularly in its namesake stores, while Free People and Anthropologie are experiencing rising sales [1][4] - The overall sales trends indicate a "remarkably resilient" consumer, with positive sales continuing into the fourth quarter [5] Future Outlook - The company is optimistic about demand ahead of the holiday shopping season, despite external challenges [5] - Urban Outfitters is evaluating its store leases, with potential closures and relocations expected in the coming years [6] Stock Performance - Urban Outfitters shares surged 14% in premarket trading, reaching $45.84, and have increased over 25% since the beginning of the year [7]