Urban Outfitters Inc. (URBN - Free Report) just released its third quarter fiscal 2017 financial results after the bell, posting earnings of 40 cents per share and revenues of $862 million. URBN is a #3 (Hold) on the Zacks Rank, and is down 9.25% to $35.50 per share in after-hours trading.
Missed earnings estimates. The company reported earnings of 40 cents per share, missing the Zacks Consensus Estimate of 44 cents per share. Net income for the quarter was $47 million.
Missed revenue estimates. The company saw revenue figures of $862 million, lagging behind our consensus estimate of $873 million but increasing 5% year-over-year.
Urban reported Comparable Retail segment net sales, which includes its comparable direct-to-consumer channel, increased 1.0%. Comparable Retail segment net sales increased 5.2% at Urban Outfitters, but decreased 1.5% at Free People and 2.7% at the Anthropologie Group. Wholesale segment net sales increased 30%.
“I am pleased to announce our teams delivered record third quarter sales," said Richard A. Hayne, Chief Executive Officer. "These results were driven by the third consecutive quarter of positive Retail segment 'comps' and continued strength in our Wholesale segment," finished Mr. Hayne.
Here’s a graph that looks at Urban’s 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.
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