Urban Outfitters (URBN) Tops Q3 EPS by 34c, Revenues Beat

Urban Outfitters (NASDAQ: URBN) reported Q3 EPS of $0.78, $0.34 better than the analyst estimate of $0.44. Revenue for the quarter came in at $969.61 million versus the consensus estimate of $924.23 million.

• Net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020
• Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million.
• Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel.
• By brand, comparable Retail segment net sales increased 17% at Free People and 4% at Urban Outfitters and decreased 9% at the Anthropologie Group.
• Wholesale segment net sales decreased 24%.

“I am pleased to announce URBN delivered record Q3 earnings per share in spite of an incredibly difficult operating environment,” said Richard A. Hayne, Chief Executive Officer. “Our 38% increase in net profits was driven by strong product assortments combined with tight control of inventory and expenses,” finished Mr. Hayne.

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

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