Urban Outfitters Inc. (URBN - Free Report) just released its second quarter fiscal 2018 financial results, posting earnings of 44 cents per share and revenues of $873 million. Currently, URBN is a #4 (Sell) on the Zacks Rank, and is surging 13.8% to $19.15 per share in trading shortly after its earnings report was released.
Urban Outfitters:
Beat earnings estimates. The company reported earnings of 44 cents per share, soaring past the Zacks Consensus Estimate of 37 cents per share. Net income was $50 million for the quarter.
Beat revenues estimates. The company saw revenues of $873 million, topping our consensus estimate of $863.87 million but declining 2% year-over-year.
Comparable Retail segment net sales, which includes Urban’s comparable direct-to-consumer channel, decreased 4.9% during Q2. Breaking it down by division, comps increased 2.9% at Free People, but decreased 4% at Anthropologie and 7.9% at Urban Outfitters.
The company said the decline in comps was due to negative retail store sales, which was partially offset by continued sales growth in our direct-to-consumer channel.
"While we are disappointed in our second quarter performance, we have a number of initiatives underway including: speed to customer, international growth, wholesale expansion and digital investments,” said Richard A. Hayne, Chief Executive Officer. “We believe these initiatives combined with encouraging fashion apparel trends could lead to improved topline performance in future quarters,” finished Mr. Hayne.
Here’s a graph that looks at Urban Outfitters’ price, consensus, and EPS surprise:
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.
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month.
Learn the secret >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Urban Outfitters Inc. (URBN - Free Report) just released its second quarter fiscal 2018 financial results, posting earnings of 44 cents per share and revenues of $873 million. Currently, URBN is a #4 (Sell) on the Zacks Rank, and is surging 13.8% to $19.15 per share in trading shortly after its earnings report was released.
Urban Outfitters:
Beat earnings estimates. The company reported earnings of 44 cents per share, soaring past the Zacks Consensus Estimate of 37 cents per share. Net income was $50 million for the quarter.
Beat revenues estimates. The company saw revenues of $873 million, topping our consensus estimate of $863.87 million but declining 2% year-over-year.
Comparable Retail segment net sales, which includes Urban’s comparable direct-to-consumer channel, decreased 4.9% during Q2. Breaking it down by division, comps increased 2.9% at Free People, but decreased 4% at Anthropologie and 7.9% at Urban Outfitters.
The company said the decline in comps was due to negative retail store sales, which was partially offset by continued sales growth in our direct-to-consumer channel.
"While we are disappointed in our second quarter performance, we have a number of initiatives underway including: speed to customer, international growth, wholesale expansion and digital investments,” said Richard A. Hayne, Chief Executive Officer. “We believe these initiatives combined with encouraging fashion apparel trends could lead to improved topline performance in future quarters,” finished Mr. Hayne.
Here’s a graph that looks at Urban Outfitters’ price, consensus, and EPS surprise:
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.
Zacks' 10-Minute Stock-Picking Secret
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
But here's something even more remarkable: You can master this proven system without going to a single class or seminar. And then you can apply it to your portfolio in as little as 10 minutes a month.
Learn the secret >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on URBN - FREE