Urban Outfitters’ earnings fall short of Wall Street’s view

Urban Outfitters Inc.  shares slipped in the extended session Tuesday after the retailer posted quarterly earnings that fell short of Wall Street expectations.

Urban Outfitters reported second-quarter net income of $59.5 million, or 64 cents a share, compared with $127.3 million, or $1.28 a share, in the year-ago period.

Revenue increased to $1.18 billion from $1.16 billion in the year-ago quarter, while comparable retail-segment sales rose 1%. The company said double-digit growth in retail-store sales on increased foot traffic was offset by a low single-digit decline in digital sales.

Analysts surveyed by FactSet, however, had forecast earnings of 69 cents a share on revenue of $1.18 billion and same-store sales growth of 1.4%.

Sales at the namesake chain declined to $396.4 million from $441.6 million in the year-ago period, while Anthropologie sales rose to $479.2 million from $450.6 million.

Shares declined 2% after hours, following a 0.8% decline to close the regular session at $21.84.

Over the past 12 months, Urban Outfitters shares have fallen 26%, compared with a 13% drop in the S&P 500 index 
SPX,
-0.22%
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