Janney Montgomery Scott Maintains a 'Neutral' on Urban Outfitters (URBN); 10-Q: QTD 2Q11 Comparable Retail Segment Running
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Price: $77.81 +2.11%
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 26 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott maintains a 'Neutral' on Urban Outfitters, Inc. (NASDAQ: URBN)
JMS analyst said, "We believe comps at retail stores (excluding DTC) could remain in negative territory for the greater part of the year. We look for the shifting fashion landscape towards the company's sweetspot in the fall season as new opportunities arise to "course correct" merchandise, particularly at the Urban Outfitters and Anthropologie divisions, but have a very cautious view of the macro backdrop for the back half of the year, which may make any recovery more challenging."
"As expected, management has not provided 2Q11 EPS guidance, but they have previously noted their anticipation for increased markdown levels in 2Q11 similar to 1Q11 levels (an approximately 500 basis point hit to gross margin). We are projecting 2Q11 EPS of $0.33, in line with the Street...We continue to expect 2011 to be a year of investment and transition, as the company builds the infrastructure for future growth and works though a shifting fashion backdrop."
For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $28.49 yesterday.
JMS analyst said, "We believe comps at retail stores (excluding DTC) could remain in negative territory for the greater part of the year. We look for the shifting fashion landscape towards the company's sweetspot in the fall season as new opportunities arise to "course correct" merchandise, particularly at the Urban Outfitters and Anthropologie divisions, but have a very cautious view of the macro backdrop for the back half of the year, which may make any recovery more challenging."
"As expected, management has not provided 2Q11 EPS guidance, but they have previously noted their anticipation for increased markdown levels in 2Q11 similar to 1Q11 levels (an approximately 500 basis point hit to gross margin). We are projecting 2Q11 EPS of $0.33, in line with the Street...We continue to expect 2011 to be a year of investment and transition, as the company builds the infrastructure for future growth and works though a shifting fashion backdrop."
For more ratings news on Urban Outfitters, Inc. click here and for the rating history of Urban Outfitters, Inc. click here.
Shares of Urban Outfitters, Inc. closed at $28.49 yesterday.
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