** charts before earnings **
** charts after earnings **
Urban Outfitters beats by $0.08, beats on revs; comps -4.9%
- Reports Q2 (Jul) earnings of $0.44 per share, $0.08 better thanthe Capital IQ Consensus of $0.36; revenues fell 2.0% year/year to $873 mln vs the $860.8 mln Capital IQ Consensus.
- Comparable Retail segment net sales, which include 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 our direct-to-consumer channel.
- Wholesale segment net sales increased 10%.
- For the three and six months ended July 31, 2017, the gross profit rate decreased 440 basis points and 369 basis points versus the prior year's comparable periods, respectively.
- As of July 31, 2017, total inventory decreased by $2 mln, or 0.6%, on a year-over-year basis. Comparable Retail segment inventory decreased 4.6% at cost, which was partially offset by inventory to stock non-comparable stores.
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