Urban Outfitters Stock Climbs On Better-Than-Expected Q1 Results
Portfolio Pulse from Erica Kollmann
Urban Outfitters, Inc. (NASDAQ:URBN) shares are rising after the company reported better-than-expected Q1 results. The company posted earnings of 69 cents per share, beating the analyst estimate of 52 cents. Quarterly sales were $1.2 billion, surpassing the $1.175 billion estimate and showing a 7.75% increase year-over-year. Retail segment net sales increased 5.8%, with notable growth in the Free People and Anthropologie brands. Wholesale segment net sales increased 3.4%, and Nuuly segment net sales surged by 51.4%. Total inventory decreased by 1.9% year-over-year.
May 21, 2024 | 8:34 pm
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Urban Outfitters reported strong Q1 earnings and revenue, beating analyst estimates. The company's retail and Nuuly segments showed significant growth, and total inventory decreased year-over-year. Shares are up 8.91% after-hours.
The better-than-expected earnings and revenue, along with strong performance in key segments, are likely to positively impact URBN's stock price in the short term. The after-hours price increase of 8.91% reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100