Lifestyle retailer, Urban Outfitters (NASDAQ: URBN) was up in pre-market trading after the company reported earnings of $1.10 per share in Q2, surpassing consensus estimates of $0.89 per share. The retailer generated net sales of $1.27 billion in Q2, up by 7.5% year-over-year and beating Street estimates of $1.23 billion.
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In the second quarter, comparable retail segment net sales increased by 4.9%. The company’s gross profit grew by 21.6% to $455.6 million in Q2 driven by “higher initial merchandise markups and lower merchandise markdowns at all three Retail segment brands.”
Analysts are cautiously optimistic about URBN stock with a Moderate Buy consensus rating based on five Buys, four Holds, and one Sell.