Urban Outfitters beats Q1 sales estimates with revenue up 7.8%, stock soars 8.1%.

From Stockstory.org – CNBC: 2024-05-21 16:42:12

Clothing retailer Urban Outfitters (NASDAQ: URBN) reported Q1 CY2024 results with revenue up 7.8% to $1.20 billion and a non-GAAP profit of $0.69 per share. The company’s market capitalization is $3.87 billion and it saw same-store sales grow 4.6% year on year. Apparel sales are driven by trends and innovation, with online shopping continuing to grow. Urban Outfitters has shown annualized revenue growth of 5.8% over the last five years. Analysts expect sales to grow 5.4% over the next 12 months. Urban Outfitters’s Q1 results impressed, with stock up 8.1%.



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