Dec 13, 2011
Urban Outfitters says retail comp sales up so far in holiday
Dec 13, 2011
Apparel retailer Urban Outfitters Inc (URBN.O) said in regulatory filing that retail segment same-store sales were up in the mid-single digits so far in the fourth quarter, sending its shares up 10 percent after the bell.
Urban Outfitters, Philadelphia, USA; Photo: Corbis Images
The numbers suggest the holiday season is off to a good start for the retailer, which posted has declines in retail segment same-store sales in two of its past three quarters. Retail segment net sales include direct-to-consumer channels.
"Regaining some positive momentum in the top-line could lift shares higher as investors look around the corner to potentially brighter days ahead for Urban Outfitters," Piper Jaffray analyst Neely Tamminga said in a client note.
Urban Outfitters, which operates Free People and Terrain stores apart from its namesake chain, posted a 7 percent decline in third-quarter same-store sales hurt by weakness at its struggling Anthropologie unit.
Shares of the Philadelphia-based company were trading up at $29.00 on Monday after the bell. They closed at $26.46 on Nasdaq. sending its shares up 10 percent after the bell.
(Reporting by Meenakshi Iyer in Bangalore; Editing by Viraj Nair)
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