adidas x Urban Outfitters. Source: Footwear News
Urban Outfitters (URBN) reported quarterly revenue of $962.33 million. It missed on revenue, yet beat on GAAP EPS. The stock is up by 8% post-earnings. I had the following takeaways on the quarter.
Revenue Is In Decline
Revenue of $962 million fell 3% Y/Y. Urban Outfitters' revenue growth had been trending lower for some time. It finally fell this quarter. Revenue from the retail operations fell 3%, while revenue from wholesale was off 10%.
On a brand basis, revenue for Urban Outfitters and Anthropologie Group