How Urban Outfitters Won Big With Earnings
Urban Outfitters reported its fiscal-second quarter financial results after the markets close on Tuesday. The company said that it had $0.66 in earnings per share (EPS) on $890 million in revenue, which compares to the consensus estimates from Thomson Reuters…
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Urban Outfitters reported its fiscal-second quarter financial results after the markets close on Tuesday. The company said that it had $0.66 in earnings per share (EPS) on $890 million in revenue, which compares to the consensus estimates from Thomson Reuters that called for $0.56 in EPS and $886.84 million in revenue. The same period from the previous year had $0.52 in EPS and $867.46 million in revenue.
During this quarter comparable sales in the retail segment, including the comparable direct-to-consumer channel, increased by 1%. Comps increased 5% in the Urban Outfitters segment, while this was flat at Free People, and decreased 3% in the Anthropologie Group segment. The wholesale segment net sales increased by 4%.
In the six months that ended in July, the company opened a total of 12 new stores including: 8 Free People stores, 3 Anthropologie Group stores and 1 Urban Outfitters store.
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On the books, cash, cash equivalents and marketable securities totaled $302.3 million at the end of the quarter, versus $266.4 million in the second quarter from last year.
Richard A. Hayne, CEO of Urban Outfitters, commented on earnings:
I am pleased to announce our teams delivered record second quarter sales and earnings per share. These results were driven by a positive Retail segment ‘comp’ and substantial improvement in merchandise margins.
Shares of Urban Outfitters closed Tuesday at $31.24, with a consensus analyst price target of $31.43 and a 52-week trading range of $19.26 to $34.77. Following the release of the earnings report the stock was initially up 9.3% at $34.15 in the after-hours trading session.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
