Source: Barron's
Urban Outfitters (URBN) reported quarterly revenue of $803.27 million and GAAP EPS of $0.35. The company beat on revenue and earnings. Revenue actually fell 17% Y/Y, yet the revenue beat assuaged bulls. The stock is up over 10% post-earnings. I had the following takeaways on the quarter.
Free Falling Revenue
Shelter-in-place policies have left millions of Americans stuck at home. The majority of shopping is occurring online, if at all. Temporary store closures hurt sales last quarter. Urban Outfitters finished the most-recent quarter with nearly all of its stores up and running. Total