Urban Outfitters Delivers (URBN)

Urban Outfitters, Inc. (NASDAQ: URBN) has now released its earnings for its fourth quarter and the mend continues to be mixed here on first look.While comparable retail segment net sales were up 2%, apparently same store sales managed to be down by about 1%.

The retailer made $39.3 million, or $0.27 EPS, on a 9% gain to $731 million in sales.  Thomson Reuters had estimates of $0.29 EPS on $741.35 million in sales.

Where the story gets more blurred is in margin and inventory,  The company made strides on its inventory levels but it also reported a 955 basis point decline in its gross profit margins “primarily due to increased merchandise markdowns to clear slow-moving women’s apparel inventory at both Anthropologie and Urban Outfitter.”

During the last year it was noted that some 20.5 million shares have been repurchased and retired, at a cost of $538 million and the company noted, “These repurchases completed all of the Company’s repurchase authorizations under the program.”

Shares are indicated up 5% at $31.00 in the after-hours and the 52-week trading range is $21.47 to $33.90.  Until after the details are shown in full during the earnings conference call, perhaps this should be considered only partial data as the company tries to keep recovering.