The Urban Outfitters Turnaround Plan Is Built on a Solid Foundation, but is it Enough for Investors?
Urban Outfitters (NASDAQ: URBN) had a fairly strong third quarter in its fiscal 2024, with sales up 9% from a year ago. But there was one notable standout -- the Urban Outfitters nameplate. The story isn't a good one for this clothing retail chain. Here's what is going on when you look beneath the top-line figures, and what investors should think about it.
Although overall sales rose a solid 9% in the third quarter of its fiscal 2024, the strength was hardly uniform across all of the company's nameplates. For example, Anthropologie is its largest business at nearly 42% of the top line. Sales for this store group rose 13% year over year in the quarter. Results were even stronger for Free People, which makes up roughly 20% of sales, where the store group saw a sales increase of 23%.
Those numbers are way above 9%, so there have to be some negatives in the mix too.
Source Fool.com
