Wednesday, August 21, 2019

Urban Outfitters in mixed Q2; Free People continues to shine

Chain Store Age
Urban Outfitters’ second-quarter earnings topped analysts’ estimates but its revenue fell short amid comp declines at its namesake and Anthropologie divisions.

Total net sales decreased 3% to $962 million, short of Street expectations of $982 million. Same-store sales also dropped 3%. By brand, comparable sales increased 6% at Free People and decreased 3% at the Anthropologie Group and 5% at Urban Outfitters. Wholesale segment net sales decreased 8%.. . . more