Urban Outfitters Q2 Earnings Top Estimates

  • Urban Outfitters Inc URBN reported second-quarter FY22 sales growth of 20.3% against Q2FY20, to $1.16 billion, beating the analyst consensus of $1.08 billion.
  • Due to the material impact of COVID-19 on business operations in FY21, the management viewed the comparison of FY22 results to FY20 as the more meaningful measurement.
  • Retail segment net sales increased 24%, and wholesale segment decreased 30% versus Q2 ended July 31, 2019.
  • By brand, comparable Retail segment net sales increased 53% at the Free People Group, 20% at Urban Outfitters, and 14% at the Anthropologie Group.
  • Gross profit rose 37.8% from Q2 FY20, with the margin expanding 478 basis points to 37.6%.
  • The operating margin was 14.3%, and operating income for the quarter rose 112.5% from FY20 to $165.8 million.
  • Total inventory increased 9.8% to $483.15 million as of July 31, 2021, against the same period in FY20.
  • The company held $464.8 million in cash and equivalents as of July 31, 2021.
  • EPS of $1.28 beat the analyst consensus of $0.79.
  • Price Action: URBN shares closed higher by 5.44% at $40.73 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!