3 Takeaways From Urban Outfitters' Q3 Earnings
On Nov. 23, retailer Urban Outfitters (NASDAQ: URBN) reported adjusted earnings per share of $0.78 on $970 million for the fiscal third quarter (ended Oct. 31), above consensus estimates of $0.45 on $931.5 million. Total net sales decreased 1.8% year over year while comparable retail sales were flat. This compares to a 16.5% decrease in net sales and a 13% decline in comparable retail sales in the prior quarter for the parent company of Anthropologie, Urban Outfitters, Terrain, and Free People.
The recovery in revenue in the third quarter was driven by double-digit growth in the digital segment and a 17% increase in retail sales at Free People. Revenue growth continues to track well into the fourth quarter and Urban Outfitters is well equipped for strong demand in online sales this holiday season.
That's the top-level information about this latest earnings report. But going deeper reveals some additional takeaways investors might want to note. Here's a more detailed look at the retailer's latest quarter and three things of note.
Source Fool.com
