|Expense Ratio (net)||1.30%|
|Last Cap Gain||0.00|
|Morningstar Risk Rating||Above Average|
|Beta (5Y Monthly)||1.14|
|5y Average Return||N/A|
|Average for Category||N/A|
|Inception Date||Dec 31, 2002|
Consumers start dabbling in apparel again as they envision being vaccinated hopefully soon.
Yahoo Finance’s Myles Udland, Brian Sozzi, and Julie Hyman speak with Kontoor Brands CEO & President, Scott Baxter, about the company’s latest earnings and the state of the retail industry.
Urban Outfitters reported 4Q FY21 adjusted earnings per diluted share (EPS) of $0.30, which came in ahead of analysts’ estimates of $0.28. The lifestyle retailer and owner of brands like Anthropologie and Terrain posted sales of $1.09 billion, a decline of 6.9% year-on-year due to the impact of the COVID-19 pandemic. Analysts had estimated net sales of $1.01 billion. Shares of Urban Outfitters (URBN) declined 1.6% in extended hours trading on March 2. Urban Outfitters’ CEO, Richard A. Hayne said, “As we begin our new fiscal year, we are encouraged by the positive sales results all three brands delivered in North America quarter-to-date. We’re particularly excited by the recent uptick in demand for ‘going-out’ type apparel and believe this bodes well for our spring and summer seasons.” The company’s comparable net sales for the retail segment fell 7% year-on-year due to reduced traffic at its stores because of the pandemic and store occupancy restrictions. However, URBN’s digital channels showed double-digit growth. In FY21, URBN opened 20 new retail locations and closed 10. (See Urban Outfitters stock analysis on TipRanks) Following the announcement of URBN’s top-line results last month, Oppenheimer analyst Brian Nagel assigned a Hold rating on the stock. Nagel said in a note to investors, “Management attributed the weak top-line performance to continued pressure on store traffic caused by the coronavirus pandemic and related occupancy restrictions.” Nagel added, “We continue to monitor URBN closely. While we applaud management for many of the company’s significant strategic position efforts, we remain concerned with ongoing indications of a lack of consistency and fundamental momentum at the chain.” The rest of the Street is sidelined on the stock with a Hold consensus rating based on 3 Buys, 5 Holds, and 1 Sell. The average analyst price target of $32.88 implies around 2.6% downside potential to current levels. Related News: CAE To Buy L3Harris’ Military Training Business For $1.05B Roku Snaps Up Nielsen’s Video Ad Business; Shares Gain 3.7% Boingo Wireless Pops 25% On $854M Takeover Deal By Digital Colony More recent articles from Smarter Analyst: Box’s 4Q Profit Soars 214%; Street Sees 14% Upside B&G Foods Drops Over 6% On 4Q Earnings Miss AutoZone’s Domestic Same Store Sales Fuel 2Q Beat; Street Is Bullish Ambarella Pops 8% On Upbeat Outlook, 4Q Earnings Beat