Urban Outfitters Posts Strong Comparable Retail Sales Growth in 1Q; Shares Not a Bargain
No-moat Urban Outfitters began its fiscal year on solid footing, with net sales up more than 12% over last year and gross margin expanding 130 basis points to nearly 33%. Comparable retail sales grew 10% (admittedly, lapping a 3% decline in the prior year period), which tracked slightly ahead of our 9% consolidated same-store sales estimate for the quarter, and wholesale sales (less than 10% of revenue) grew 13%. We aren't anticipating a material change to our $31.50 fair value estimate or longe...Urban Outfitters is engaged in the operation of a general consumer product retail and wholesale business selling to customers through various channels including retail locations, websites, catalogs and mobile applications. The company has two segments: Retail, which consists of its Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands and its Food and Beverage division; and Wholesale, which designs, develops and markets young women's contemporary casual apparel, intimates, FP Movement activewear and shoes under the Free People brand, home goods, including gifts, tabletop and textiles, under the Anthropologie brand and the BDG apparel collection under the Urban Outfitters brand.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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