Urban Outfitters Inc. (NASDAQ:URBN) released its second-quarter results after Wednesday's closing bell. Here's a look at the details in the report.
- URBN stock is falling. Check the real-time price action here.
The Details: Urban Outfitters reported quarterly earnings of $1.58 per share, which beat the Street estimate of $1.48.
Quarterly revenue came in at $1.5 billion, which beat the analyst estimate of $1.47 billion.
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For the second quarter, Urban Outfitters reported:
- Total Retail segment net sales increased 7.8%, with comparable Retail segment net sales increasing 5.6%.
- Comparable Retail segment net sales increased 6.7% at Free People, 5.7% at Anthropologie and 4.2% at Urban Outfitters.
- Subscription segment net sales increased by 53.2% primarily driven by a 48.1% increase in average active subscribers in the current quarter versus the prior year quarter.
- Wholesale segment net sales increased 18.1% driven by a 19.5% increase in Free People wholesale sales, primarily due to an increase in sales to specialty customers.
“We are proud to announce record revenues, profits, and earnings per share for the quarter,” said Richard A. Hayne, CEO. “Our success was broad-based, with all five brands achieving positive comparable sales across all geographies.”
URBN Stock Price: According to data from Benzinga Pro, Urban Outfitters stock was down 10.91% at $69.50 in Wednesday's extended trading.
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