- Urban Outfitters is set to report first-quarter earnings after the market close on Tuesday.
- Analyst expect revenues to be flat and earnings to come down from a year ago.
- Watch Urban Outfitters trade live.
Urban Outfitters will report first-quarter earnings after the bell on Tuesday.
Here’s what analysts surveyed by Bloomberg were expecting:
- Revenues: $US855 million
- Net income: $US27.0 million
- Adjusted earnings per share: $US0.25
Analysts are expecting Urban Outfitter to show no revenue growth from the first quarter last year as profits decreased nearly 35%.
Despite the declines, the company is focused on new products and innovations. The Wall Street Journal reported the company is developing a rental business, Nuuly. The business will allow customers to rent items of clothing from across the Urban’s brands, including Anthropologie and Free People, as well as from over 100 third-party brands, a spokesperson told Business Insider.
In addition, the company may also benefit from a fashion shift from skinny jeans and loose-fitting tops to high-waisted trousers and crop tops. CEO Richard Hayne said the changes will benefit Urban Outfitters for years to come.
“The macro fashion, the silhouette and the proportion changes infrequently,” he said. “My experience would suggest this probably changes about once a decade.”
Urban Outfitters is down 18% this year.
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