24/7 Wall St. has included some highlights from the earnings report, as well as what a few analysts are saying after the fact.
The retailer said that it had $0.44 in earnings per share (EPS) and $872.9 million in revenue, compared with consensus estimates from Thomson Reuters of $0.37 in EPS and revenue of $861.76 million. The same period of last year reportedly had EPS of $0.66 and $890.57 million in revenue.
Comparable retail segment net sales, which includes the comparable direct-to-consumer channel, decreased 4.9%.
By brand, comparable retail segment net sales increased 2.9% at Free People, but decreased 4.0% at the Anthropologie Group and 7.9% at Urban Outfitters. The decline in comparable retail segment net sales was due to negative retail store sales, which was partially offset by continued sales growth in its direct-to-consumer channel.
Here’s what analysts had to say in the aftermath:
- Merrill Lynch reiterated a Buy rating and raised its price target to $24 from $22.
- KeyCorp has a Buy rating with a $26 price target.
- Jefferies has a Buy rating and raised its price target to $25 from $23.
- Goldman Sachs has a Sell rating but raised its price target from $16 to $18.
- Robert Baird has a Buy rating with a $22 price target.
- RBC has a Sector Perform rating and raised its price target to $21 from $17.
- Telsey Advisory Group has a Market Perform rating and raised its target from $20 to $22.
- Oppenheimer reiterated a Hold rating.
Shares of Urban Outfitters were last seen up about 20% at $20.22 on Wednesday, with a consensus analyst price target of $19.77 and a 52-week range of $16.68 to $21.31.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.