Urban Outfitters falls as lower Q2 same-store sales weigh

Urban Outfitters

22/08/2024 09:37

** Shares of apparel retailer Urban Outfitters  URBN.O  fall
8.4% to $38.01 premarket after q2 results 
    ** Q2 same-store sales decreased 9.3% y-o-y at Urban
Outfitters locations 
    ** Q2 adj. EPS of $1.24 beat Wall Street view of $1 - LSEG
data
    ** Co reports Q2 revenue of $1.35 bln; above market
estimates of $1.34 bln 
    ** At least three brokerages slash price target on the stock
following results 
    ** Four of 13 brokerages rate the stock "buy" or higher,
eight "hold" and one "sell" or lower; their median PT is $42.50
    ** Up to Wednesday's close, stock had risen 16.2% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))