Urban Outfitters falls after Jefferies warns on slowing foot traffic [Seeking Alpha]
Urban Outfitters, Inc. (URBN)
Last urban outfitters, inc. earnings: 3/3 04:10 pm
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US:NASDAQ Investor Relations:
investor.urbn.com/investor-relations
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Source: Seeking Alpha
traffic data, promotional headwinds, and increased competition. The firm moved to an Underperform ratings on URBN after having the mall retailer slotted at Hold. Analyst Corey Tarlowe and team believe that URBN's core brands have been beneficiaries of a recent emerging fashion cycle including a shift to wide leg and denim strength, but warned the stock could face short-term headwinds as core Urban Outfitters' turnaround is likely bumpy, and growth at Anthropologie & Free People appears to be moderating. Tarlowe said the firm identified a notable deceleration in rolling 3-month foot traffic to all three of URBN's brands. He also noted that double-digit traffic growth at year-end at Anthro and Free People appears to be slowing to a low single-digit rate, while the turnaround with the Urban brands also appears vulnerable. Jefferies sees potential for shares to de-rate from a ~10X PE multiple to ~9X and dropped its price target to $32. Urban Outfitters ( URBN ) is expected to report
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URBN
Earnings
- 2/27/24 - Miss
URBN
Sec Filings
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- URBN's page on the SEC website