Urban Outfitters beats by $0.07, beats on revs
- Reports Q2 (Jul) earnings of $0.84 per share, $0.07 better thanthe S&P Capital IQ Consensus of $0.77; revenues rose 13.7% year/year to $992.5 mln vs the $980.19 mln S&P Capital IQ Consensus.
- Comparable Retail segment net sales increased 13%, driven by strong, double-digit growth in the digital channel and positive retail store sales. By brand, comparable Retail segment net sales increased 17% at Free People, 15% at Urban Outfitters and 11% at the Anthropologie Group. Wholesale segment net sales increased 10%.
- For the three months ended July 31, 2018, the gross profit rate improved by 180 basis points Y/Y. The improvement in gross profit rate for both periods was driven by lower markdowns at all three brands and leverage in store occupancy cost due to strong Retail segment comparable net sales. These gains were partially offset by deleverage in delivery expense due in part to the increased penetration of the digital channel.
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