Source: Barron's
The earnings season has been tough for retailers, particularly those reliant on sales through physical locations. The coronavirus has caused demand destruction within the retail space. Millions have been stuck at home amid shelter-in-place policies. Most shopping has been done online, if at all. That hurt Urban Outfitters' (URBN) top line in its most recent quarter. The company reported total revenue of $588.48 million, down 32% Y/Y.
The retail operations fell 28% Y/Y, while wholesale fell over 70%. Nully, the company's subscription rental business, generated $6 million in revenue. The brand