Urban Outfitters Profit Falls But Tops Expectations
March 07 2016 - 4:20PM
Dow Jones News
Urban Outfitters Inc. said its earnings fell in the holiday
quarter, marking the retailer's second consecutive decline in
annual profit.
Still, results were better than projected, sending shares up
5.7% to $29.75 in late trading.
For the period ended Jan. 31, Urban Outfitters reported a profit
of $72.9 million, or 61 cents a share, compared with $80.3 million,
or 60 cents a share, a year earlier. The current year's results are
based on a 16% decline in outstanding shares, helping the company
preserve the per-share payout.
Analysts surveyed by Thomson Reuters had projected 56 cents a
share.
Gross profit margin—or the percentage of sales the retailer
makes after accounting for production costs—was 34.5%, down
slightly from 34.6%.
Sales, which the company had already reported last month, were
largely flat from the year-ago period at $1.01 billion.
The Philadelphia-based retailer, which opened its first store in
1970 near the University of Pennsylvania campus, has expanded into
a multinational clothing company with more than $3 billion in sales
a year under the Urban Outfitters, Free People, Anthropologie,
BHLDN and Terrain brands.
The retailer has reported a sales slowdown at its two largest
brands, Urban Outfitters and Anthropologie Group, which also
includes BHLDN and Terrain.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
March 07, 2016 17:05 ET (22:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Urban Outfitters (NASDAQ:URBN)
Historical Stock Chart
From Apr 2024 to May 2024
Urban Outfitters (NASDAQ:URBN)
Historical Stock Chart
From May 2023 to May 2024