Urban Outfitters (URBN): Women's Apparel Offsets Growth in Other 6 Categories - FBR
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
FBR Capital analyst, Susan Anderson, reiterated her Market Perform rating on shares of Urban Outfitters, Inc. (NASDAQ: URBN) after the company reported 3Q16 EPS of $0.40, vs. consensus' $0.44. SSS were +1%, vs. consensus' +1.9%. Sales were driven by strong UO and FP wholesale performance.
Management believes 4Q16 GM could decrease YOY due to higher markdowns at Anthro (women's apparel performance), slightly higher at UO due to marginally higher inventory (likely from cycling lean inventory LY). URBN also expects SGA to grow +MSD in 4Q due to increased store-related expenses to support non-comp store-based growth.
Despite growth in six of seven product categories, SSS at Anthro were down –2.7% vs. consensus' estimates of –1.1%+ and 0% LY from a decline in women's apparel. Expanded categories (home, beauty, BHLDN, Terrain) contributed positive results. Inventory was tightly controlled, but Anthro still had higher markdowns for the quarter.
No change to the price target of $31.
Shares of Urban Outfitters, Inc. closed at $39.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
- Instinet Upgrades Juniper Networks (JNPR) to Buy
- BMO Capital Raises Price Target on Ciena (CIEN) Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!