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 fourth-quarter net income of $64.3 million.
On a per-share basis, the Philadelphia-based company said it had profit of 55 cents.
The results missed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The clothing and accessories retailer posted revenue of $1.03 billion in the period, matching Street forecasts.
ADVERTISEMENT
For the year, the company reported profit of $218.1 million, or $1.86 per share. Revenue was reported as $3.55 billion.
Urban Outfitters shares have decreased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 6 percent. In the final minutes of trading on Tuesday, shares hit $25.41, a drop of roughly 10 percent in the last 12 months.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.