Urban Outfitters (URBN) Posts Earnings Beat, Comps Surge 10%
Urban Outfitters, Inc. (URBN) just released its latest quarterly financial results, posting earnings of 38 cents per share and revenues of $856 million.
Currently, URBN is a Zacks Rank #2 (Buy), but that could change based on today’s results. Shares of the company have gained about 9% over the past month but lost 2.5% during regular trading hours today.
The stock is currently down 1.3% to $40.65 per share in after-hours trading shortly after its earnings report was released.
Urban Outfitters:
Beat earnings estimates. The company posted earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.30. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $855.7 million, topping our consensus estimate of $837.1 million. Total revenue was up about 12.4% year over year.
Comparable Retail segment sales increased 10%. Comps were boosted by “double-digit” growth in the digital channel and positive retail store results. Comps increased 15% at Free People, 10% at Anthropologie, and 8% at Urban Outfitters.
“We are pleased to report record first quarter sales driven by a 10% increase in comparable Retail segment sales and a 13% increase in wholesale sales,” said CEO Richard A. Hayne. “Even more exciting is our 280% jump in first quarter EPS, a result of strong sales, healthy margin improvement, SG&A leverage and a lower tax rate”
Here’s a graph that looks at Urban’s recent earnings performance:
Urban Outfitters, Inc. Price, Consensus and EPS Surprise
Urban Outfitters, Inc. Price, Consensus and EPS Surprise | Urban Outfitters, Inc. Quote
Urban Outfitters is a specialty retailer and wholesaler offering a variety of lifestyle merchandise to highly defined customer niches through Urban Retail stores in the United States, Canada, and Europe; an Urban Outfitters website; Anthropologie retail stores in the United States; and Free People, the company's wholesale division.
Check back later for our full analysis on URBN’s earnings report!
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