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Urban Outfitters (URBN) Beats Q2 Earnings & Sales, Stock Pops 8%
Urban Outfitters (URBN - Free Report) just released its second quarter fiscal 2017 earnings results, posting earnings of $0.66 per share and revenue of $891 million.
URBN was up $2.61, or 8.35%, to $33.83 as of 4:24 PM ET in after-hours trading shortly after its earnings report was released.
Urban beat earnings estimates. The company posted earnings of $0.66 per share, soaring past the Zacks Consensus Estimate of 56 cents and rising 26.9% year-over-year.
The company also beat revenue estimates. Urban saw revenue figures of $891 million, topping our consensus estimate of $889 million and increasing 3% year-over-year.
Comparable Retail segment net sales, including comparable direct-to-consumer channel, increased 1%. Comparable Retail segment net sales increased 5% at Urban Outfitters, was flat at Free People, and decreased 3% at the Anthropologie Group. Wholesale segment net sales increased 4%.
Urban opened a total of 12 new stores including: 8 Free People stores, 3 Anthropologie Group stores and 1 Urban Outfitters store; and closed 3 stores including: 1 Free People store, 1 Anthropologie Group store and 1 Urban Outfitters store.
"I am pleased to announce our teams delivered record second quarter sales and earnings per share," said Richard A. Hayne, Chief Executive Officer. "These results were driven by a positive Retail segment 'comp' and substantial improvement in merchandise margins," finished Mr. Hayne.
Here’s a graph that looks at Urban Outfitters’ price, consensus, and EPS surprise:
URBAN OUTFITTER Price, Consensus and EPS Surprise
URBAN OUTFITTER Price, Consensus and EPS Surprise | URBAN OUTFITTER Quote
Urban Outfitters, Inc. operates two business segments consisting of a lifestyle-oriented general merchandise retailing segment and a wholesale apparel business. The retailing segment operates through retail stores and direct response, including a catalog and two web sites. The company's wholesale business designs and markets young women's casual wear which it provides to the company's retail operations and sells to specialty retailers worldwide.
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