Why Shares of Urban Outfitters Are Up Today
Shares of Urban Outfitters (NASDAQ: URBN) climbed nearly 6% on Thursday, a second-consecutive strong trading session following the retailer's better-than-expected earnings report. The company has spent most of the year caught up in the malaise surrounding retail stocks, with shares at one point last week down 40% year to date. Investors, however, seem to be warming up to the idea that the worst is finally behind Urban Outfitters.
Urban Outfitters saw retail net sales fall 3% year over year in the recently completed second quarter and generated gross margin of 32.8%, compared to 35.9% a year ago. But the company, which also owns the Anthropologie and Free People brands, said in its Aug. 20 earnings release that it's seeing reasons for optimism concerning the current quarter.
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Source Fool.com
