From Nasdaq:

Urban Outfitters (URBN) has shown a significant increase of 52% year-to-date, with stock prices growing from $24 to $36. Its Q3 gross profit margin increased 510 basis points year-over-year to 35.5% and operating margins grew 420 basis points during the same period. Additionally, the company’s inventory levels declined 3% year-over-year to $721 million in Q3 2024.

The retailer saw its Q3 revenues grow almost 9% year-over-year to $1.28 billion, driven by growth in all the brands, except Urban Outfitters. The company also experienced significant traction in its rental apparel business, Nuuly, with a 94% increase in revenues year-over-year to $64 million. Urban Outfitters reported diluted earnings per share of $0.88, up an impressive 120% year-over-year.

For the fiscal year 2024, Urban Outfitters’ revenues are forecasted to be $5.0 billion, up 4% year-over-year. The company’s earnings per share are expected to come in at $3.20, leading to a valuation of approximately $38 per share.
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