Nordstrom Reports 3rd Quarter 2022 Earnings [Forbes]
Urban Outfitters, Inc. (URBN)
Last urban outfitters, inc. earnings: 3/3 04:10 pm
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Source: Forbes
Seattle, WashingtonGettyNordstromJWNIn the third quarter net sales decreased 2.9% versus the same period in fiscal 2021.amd gross merchandise value (GMV) decreased 2.5%. Notably, the Anniversary sale timing one week shifted from the third quarter to the second quarter which had a negative impact of about 200 basis points compared with 2021. The company indicated that Nordstrom full-line stores dropped 2.9% while the Rack stores dropped 1.9%.Management indicated that young customers cut their shopping dramatically in September and October and only in the last two weeks management has seen a pick-up in sales to this age group. It matches a report by Urban Outfitters who profits dropped 58% in the third quarter of 2022 as inflation hits younger shoppers. Evan Clark of WWD reported that the outlook is still good if the economy does not fall off a cliff.The company announced plans to open or relocate stores. Nordstrom Rack will open 8 stores in the Spring of 2023, and 8 stores in the Fall
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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