Loading...
Loading...
Urban Outfitters Inc URBN reported third-quarter FY22 sales of $1.13 billion, beating the analyst consensus of $1.12 billion. Sales improved 14.6% over Q3 FY20. EPS of $0.89 beat the analyst consensus of $0.84.
- Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by mid-single-digit negative retail store sales primarily due to reduced store traffic.
- Retail segment sales rose 16.6% Y/Y, and wholesale sales increased 11.2%.
- Selling, general and administrative expenses rose 11.8% from Q3 FY20 to $29 million.
- The gross profit increased 20.9% Y/Y to $390 million with a profit margin of 34.5%.
- The operating margin was 10.2%, and operating income for the quarter rose 17.6% Y/Y to $115.9 million.
- The company held $236.4 million in cash and equivalents as of October 31, 2021.
- As of October 31, 2021, total inventory increased by 18.0% versus inventory as of October 31, 2019.
- "We are excited that November' comp' sales to date for all brands have accelerated from their Q3 rate," said CEO Richard A. Hayne.
- Price Action: URBN shares are trading lower by 11.5% at $33 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in