Urban Outfitters, Inc. (NASDAQ:URBN) shares soared after the company released its third-quarter earnings report after Tuesday's closing bell, beating estimates on the top and bottom lines.
Here's a look at the details in the report.
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The Details: Urban Outfitters reported quarterly earnings of $1.28 per share, which beat the Street estimate of $1.18 by 8.11%.
Quarterly revenue came in at $1.53 billion, which beat the analyst estimate of $1.47 billion and was up from revenue of $1.36 billion from the same period last year.
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Urban Outfitters reported the following third quarter highlights:
- Total Retail segment net sales increased 9.6%, with comparable Retail segment net sales increasing 8%.
- Comparable Retail segment net sales increased 12.5% at Urban Outfitters, 7.6% at Anthropologie and 4.1% at Free People.
- Subscription segment net sales increased by 48.7% primarily driven by a 42.2% increase in average active subscribers in the current quarter versus the prior year quarter.
- Wholesale segment net sales increased 7.6% driven by an 8.4% increase in Free People wholesale sales, primarily due to an increase in sales to specialty customers.
“We are pleased to report record revenues, profits, and earnings per share for the quarter,” said Richard A. Hayne, CEO.
“Trends observed last quarter have remained consistent with broad-based comparable sales growth and robust results in the Retail, Subscription and Wholesale segments,” Hayne added.
URBN Stock Price: According to data from Benzinga Pro, Urban Outfitters stock climbed 15.06% to $78.60 in Tuesday's extended trading.
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