logo
  Join        Login             Stock Quote

Urban Outfitters (URBN) 3Q Earnings Jump 17.4 Pct, Yet Miss Estimates; Shares Fall

 November 19, 2012 04:25 PM
 


(By Balaseshan) Specialty retailer Urban Outfitters Inc. (NASDAQ: URBN) reported a 17.4% jump in quarterly earnings on strong comparable store sales and higher revenue. Yet earnings missed Street's expectations, sending its shares down 5.45% in aftermarket.

Earnings for the third quarter were $59.52 million or $0.40 per share, up from $50.68 million or $0.33 per share last year.

Sales increased 14% to $692.89 million. Comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 8% for the quarter, while comparable store net sales decreased 1%.

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.41 per share on revenue of $692.38 million for the third quarter.

[Related -Urban Outfitters Inc. (URBN) Q3 Earnings Preview: Bullish November Calls]

Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased 24%, 7% and 6%, respectively. Direct-to-Consumer net sales increased 36% and wholesale segment net sales rose 7% for the quarter.

Sales from Urban Outfitters brand grew 14% to $331.85 million, while Anthropologie sales rose 9.3% to $266.89 million. Free People sales jumped 24.8% to $87.49 million, while other sales climbed 42% to $6.67 million.

Gross margin improved 222 basis points to 37.6%, primarily due to a reduction in merchandise markdowns.

As of October 31, 2012, total inventories increased by $28 million or 8%, primarily related to the acquisition of inventory to stock new and non-comparable stores and to support the significant growth in the direct-to-consumer channel, partially offset by a 6% decrease in comparable store inventories.

[Related -A Bounce With Conviction?]

URBN closed Monday's regular session up 5.76% at $37.07. The stock has been trading between $23.42 and $40.65 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageA Lesson For the Bears From 2007

Bears almost never get a top where they want it. During 2007, the S&P 500 fell below its 200-day moving read on...

article imageGoogle: Still Opportunities Ahead

Google (GOOGL) shares are finally recovering after announcing third-quarter earnings last week that were read on...

article imageThis Technical Indicator May Be The Simplest Way To Pick Winning Stocks

What's the first rule of successful real estate investing? Of course, you just said to yourself, "location, read on...

article imageUpdate On Crude Oil Markets

Crude prices came under pressure again today. According to Reuters (from last week), the Saudis “will read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.