Why Urban Outfitters, Inc. Stock Popped Today
Shares of Urban Outfitters Inc. (NASDAQ: URBN) climbed 17.2% on Wednesday after the clothing retailer announced better-than-expected second-quarter results.
More specifically, Urban Outfitters' revenue during the quarter fell 2% year over year to $872.9 million, including a 3% decline in retail-segment sales to $790.6 million, and 10% growth in wholesale sales to $82.3 million. On the bottom line, that translated to net income of $49.9 million, or $0.44 per share, down from $76.9 million, or $0.66 per share in the same year-ago period.
By comparison -- as I noted when shares fell amid disappointing reports from Urban Outfitters' department-store peers last week -- Wall Street was expecting the company to post earnings of just $0.37 per share on lower revenue of $862 million.
Source: Fool.com
Urban Outfitters Stock
With 13 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
However, we have a potential of -1.55% for Urban Outfitters as the target price of 38 € is below the current price of 38.6 €.
