Urban Outfitters (URBN) Misses Q3 EPS by 6c; Comps Fall 1%

Urban Outfitters (NASDAQ: URBN) reported Q3 EPS of $0.35, $0.06 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $814 million versus the consensus estimate of $813.05 million. Comparable Retail segment net sales, which include our comparable direct-to-consumer channel, decreased 1%.

Comparable Retail segment net sales increased 15% at Free People and 2% at the Anthropologie Group and decreased 7% at Urban Outfitters. Wholesale segment net sales rose 26%.

"While we are pleased with delivering record third quarter sales fueled by strong performances at our Anthropologie and Free People brands, I am disappointed by the results at the Urban Outfitters brand," said Richard A. Hayne, Chief Executive Officer. "There is much work to be done to improve the merchandise margins and store performance at the Urban brand, but I see positive signs as shown by strong results at the brand`s direct-to-consumer channel," he concluded.

For earnings history and earnings-related data on Urban Outfitters (URBN) click here.

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