Source: Urban Outfitters
Urban Outfitters (URBN) reported quarterly revenue of $987.47 million and GAAP EPS of $0.56. It missed on revenue and earnings, and the stock fell by double-digits. I had the following takeaways on the quarter.
Stagnant Revenue Growth
Revenue of $987 million rose 1% Y/Y. This was an improvement over the 3% decline reported last quarter. Revenue from retail operations rose 2% Y/Y, while the wholesale segment fell 7%. Revenue from Nuuly, the company's subscription rental business for apparel, generated $2 million in revenue. The brand was launched at the beginning