Company Earnings Update

Urban Outfitters (NYSE: URBN) 2Q19 Results: Sales and Comps Below Expectations Due to Softer Women’s Apparel Assortment

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Coresight Research

Key Points

  • Urban Outfitters reported fiscal 2Q19 revenues of $962.3 million, lower than the consensus estimate of $980.6 million and down 3% year over year. The company reported 2Q19 earning per share (EPS) of $0.61, above the consensus estimate of $0.58 and down 27.4% from the year ago period.
  • Comparable net sales decreased 3%, compared to the consensus estimate of down 2%, driven by negative retail store sales growth, partially offset by growth in digital.
  • Management said 3Q19 should bring improved comps driven by improved assortments in the apparel category. Gross margin for 3Q19 could decline by approximately 200 basis points.

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