Jefferies Reports Low Visibility On Urban Outfitters

According to Jefferies, Urban Outfitters URBN visibility remains low. Jefferies said that 1Q marked a tough quarter for URBN with negative comps and EPS down ~25% YoY. “However, we believe even more difficulties may lie ahead as the company faces limited visibility and some stalled longer term growth concepts (Leifsdottir, Terrain). As such, we see further risk to earnings and reiterate our Underperform rating.” Urban Outfitters closed yesterday at $32.29.