- Urban Outfitters (NASDAQ:URBN) is higher in early trading after staying in positive territory with Q2 comparable retail segment sales growth (+1%).
- Comparable Retail segment net sales were up 5% for the Urban Outfitters brand, came in flat at Free People, and decreased 3% for Anthropologie Group.
- Wholesale segment sales increased 4% during the quarter.
- Gross profit as a percentage of sales +180 bps to 38.5%. Net income as a percentage of sales +90 bps to 8.6%.
- The company ended the quarter with inventory down 4% Y/Y.
- Investment firm PT changes on Urban Outfitters: Royal Bank of Canada to $34 from $29, FBR to $31 from $29, Telsey Advisory to $39 from $31, Mizuho to $32 from $28.
- Previously: Urban Outfitters beats by $0.10, beats on revenue (Aug. 16)
- URBN +12.36% to $35.10.