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URBN

Urban Outfitters

$39.01

1.84 (4.95%)

19:07
11/22/16
11/22
19:07
11/22/16
19:07

Urban Outfitters CFO: Q4 gross margins 'could decrease' due to higher markdowns

Speaking during the company's Q3 earnings conference call earlier, Urban Outfitters CFO Frank Conforti stated, "Markdowns were favorable due to lower markdowns at the Urban Outfitters brand which was partially offset by higher markdowns at the Anthropologie and Free People brands. Despite well controlled inventory, Anthropologie was not able to hold their markdowns flat this quarter due to their challenging women's apparel performance... Inventory increased by 3% to $454M. The increase in inventory is primarily due to an increase in non-comp inventory to support our new and expanded stores. Our retail segment inventory comp was up 1% at cost, with both Anthropologie and Free People well controlled and appropriately negative. Urban Outfitters inventory ended just slightly higher than where we would have liked... We believe our Q4 gross margin rate could decrease versus the prior year primarily due to higher markdowns. These markdowns could be driven by higher markdowns at Anthropologie related to their women's apparel performance and slightly higher markdowns at Urban Outfitters related to marginally higher inventory."

  • 22

    Nov

  • 13

    Dec

  • 09

    Jan

URBN Urban Outfitters
$39.01

1.84 (4.95%)

09/07/16
WOLF
09/07/16
UPGRADE
Target $43
WOLF
Outperform
Urban Outfitters upgraded to Outperform from Peer Perform at Wolfe Research
Wolfe upgraded Urban Outfitters to Outperform with a $43 price target citing share gains, improving fundamentals, sustained promotional discipline, and sustained positive comps.
10/24/16
JEFF
10/24/16
NO CHANGE
Target $45
JEFF
Buy
Jefferies sees margin potential as another reason to buy Urban
Jefferies analyst Randal Konik views underappreciated margin expansion as another reason to own shares of Urban Outfitters. Margins at the namesake store and Anthropologie are "well off highs" and can improve 500 basis points over the next few years, Konik tells investors in a research note. He keeps a Buy rating on Urban Outfitters with a $45 price target.
11/10/16
WDLK
11/10/16
UPGRADE
Target $40
WDLK
Buy
Urban Outfitters upgraded to Buy from Hold at Wunderlich
Wunderlich analyst Eric Beder upgraded Urban Outfitters to Buy and raised his price target for the shares to $40 from $31.
11/17/16
MSCO
11/17/16
DOWNGRADE
MSCO
Equal Weight
Urban Outfitters downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger downgraded Urban Outfitters to Equal Weight and raised its price target to $39 citing year-to-date share strength and more balanced risk/reward.

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