The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PHILADELPHIA, United States — Urban Outfitters Inc. on Tuesday reported fiscal second-quarter earnings of $76.9 million.
The Philadelphia-based company said it had profit of 66 cents per share.
The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The clothing and accessories retailer posted revenue of $890.6 million in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $889.1 million.
Urban Outfitters shares have risen 37 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 7 percent. In the final minutes of trading on Tuesday, shares hit $31.25, a decline of 3 percent in the last 12 months.
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In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.
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