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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:05 EDTANFAbercrombie & Fitch shares have plenty of room to run, says BMO Capital
After meeting with Abercrombie & Fitch's senior management, BMO Capital thinks the company can beat expectations in 2015 and beyond, due to cost savings. The firm thinks the company's investments in marketing could start to pay off as soon as the end of Q2, and it says that the retailer's fundamentals are improving.
News For ANF From The Last 14 Days
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May 18, 2015
20:16 EDTANFUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).

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