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Retailer Urban Outfitters reported better than expected third quarter 2018 earnings after the close Monday. Comparable sales of Free People, Anthropologie & $URBN brands all grew strongly.

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Urban Outfitters, Inc. NASDAQ: URBN Reported Earnings After Close Monday

 $0.70 Beat $0.63 EPS AND $973.5M Beat $968 Million Revenue Forecast 


Urban Outfitters earnings for the third quarter were $77.5 million or $0.70 per share on $973.5 million. Earnings were up from $45.1 million or $0.41 per share last year, and exceeded the forecast of 63 cents a share on 8% revenue growth to $968 million.

Profits were boosted by a rise in gross profit, driven by lower markdowns at all three brands and leverage in store occupancy cost. 

Urban Outfitters, Inc. NASDAQ: URBN

Market Reaction After hours $37.06 +1.45 (+4.07%)


“I’m pleased to announce our teams produced record Q3 sales and earnings. All brands, all channels, all product categories and all geographies delivered positive ‘comp’ sales,” said CEO Richard Hayne.

  • All three main business segments registered growth, with retail and wholesale sales gaining 9% and 12% respectively compared to the third quarter of 2018.
  • Retail comparable sales rose 8%, aided by a double-digit growth in the digital channel. 

Urban Outfitters is generally linked to the hipster millennials with that demographic a big feature of URBN's customer base and target. These is a grouping that society often parodies for their reliability, which carries some of the basis for the large short book on Wall Street. Not a sound basis to 'hate a stock'.  

Segment Brands

  • Free People sales rose 12 percent
  • Anthropologie Group fell 8 percent 
  • Urban Outfitters sales fell 7 percent

URBN Earnings Q3 18

During the year-to-date period, Urban Outfitters repurchased 1.5 million shares for about $58 million. 

URBN opened 14 new outlets during the period, including four Anthropologie stores, four Urban Outfitters stores, three Free People stores and three Food and Beverage restaurants.

Source: Urban Outfitters, AlphaStreet

From The TradersCommunity NewsDesk

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