Urban Outfitters, Inc. (NASDAQ:URBN) has logged a 7.7% stock movement, with shares now trading at $38.68 per share. The company's latest press release, issued on January 8, 2024, announced record holiday sales and a personnel update.
According to the release, for the two months ended December 31, 2023, total company net sales increased by 10% compared to the same period in 2022. Additionally, for the eleven months ended December 31, 2023, total company net sales increased by 8% compared to the same period in 2022. The company noted that total retail segment net sales increased, with comparable retail segment net sales also showing positive growth, driven by increases in digital channel sales and retail store sales.
Regarding personnel, the company announced that Shea Jensen will be joining Urban Outfitters as president of the Urban Outfitters brand, North America, effective February 5, 2024. Richard A. Hayne, Chief Executive Officer, expressed his pleasure at this appointment, stating, "Shea is a strong leader with extensive experience across all retail channels. We are delighted to have Shea join the brand and believe her authentic leadership style and customer-first mindset will be a great asset to the brand."
During the eleven months ended December 31, 2023, the company opened a total of 26 new retail locations and closed 12 retail locations.
Richard A. Hayne, Chief Executive Officer of Urban Outfitters, commented on the results, saying, "We are pleased to report record holiday sales and are excited to welcome Shea Jensen to Urban Outfitters. With her extensive experience, we believe she will be a great asset to the brand."
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $3,616 | $3,951 | $3,984 | $3,450 | $4,549 | $4,795 |
| Revenue Growth | n/a | 9.25% | 0.84% | -13.41% | 31.86% | 5.42% |
| Operating Margins | 7% | 10% | 6% | 0% | 9% | 5% |
| Net Margins | 3% | 8% | 4% | 0% | 7% | 3% |
| Net Income (MM) | $108 | $298 | $168 | $1 | $311 | $160 |
| Diluted Shares (MM) | 110 | 99 | 99 | 99 | 93 | 94 |
| Free Cash Flow (MM) | $219 | $332 | $56 | $127 | $97 | -$57 |
| Capital Expenditures (MM) | $84 | $115 | $217 | $159 | $262 | $200 |
| Current Ratio | 2.74 | 1.57 | 1.45 | 1.31 | 1.33 | 1.43 |
Urban Outfitters has growing revenues and increasing reinvestment in the business and exceptional EPS growth. Additionally, the company's financial statements display decent operating margins with a negative growth trend and healthy leverage. However, the firm has irregular cash flows.
