Urban Outfitters (URBN): Women's Apparel Offsets Growth in Other 6 Categories - FBR
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a 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
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
- Jefferies Cuts Price Target on Dollar General (DG) Following 3Q
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!