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March 11, 2014
07:43 EDTURBNUrban Outfitters a premium name trading at a discount, says Brean Capital
Brean Capital views Urban Outfitters as one of the few remaining growth stories in specialty retailing and said the stock is a premium name selling at a discount. The firm reiterated its Buy rating and $43 price target following better than expected Q4 results.
News For URBN From The Last 14 Days
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October 9, 2015
11:32 EDTURBNGap sinks to 52-week low after September SSS fall 1%
Shares of casual apparel retailer GAP (GPS) are sinking after the company's September same-store sales fell 1%. WHAT'S NEW: After the close on Thursday, Gap reported that net sales for the five-week period ended October 3 decreased 1% to $1.46B, compared with net sales of $1.48B for the five-week period ended October 4, 2014. On a constant currency basis, September net sales increased 2% compared with last year. Gap's comparable sales for September were down 1% versus flat last year. The company's comparable sales by global brand for September were as follows: Gap Global were flat versus (3%) last year; Banana Republic Global were (10%) versus 2% last year; Old Navy Global were 4% versus 1% last year. CFO Sabrina Simmons noted, "While September proved challenging, our leadership teams remain focused on taking the necessary steps to improve performance." WHAT'S NOTABLE: Gap now expects its gross margin rate for the third quarter to be similar to the second quarter. ANALYST REACTION: Friday morning, research firm MKM Partners downgraded Gap to Neutral from Buy and lowered its price target to $29 from $40. Analyst Roxanne Meyer said the Q3 shortfall was likely across all brands and significantly cut sales and margin estimates. Meyer said the Old Navy September comp miss is likely more than weather and the drag from Banana Republic. PRICE ACTION: In late morning trading, Gap fell $1.75, or just over 6%, to $27.20 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week low of $26.50. Including the pull back, the shares have lost approximately 26% over the past year. OTHERS TO WATCH: Other apparel retailers include Urban Outfitters (URBN), down 1.3%, American Eagle Outfitters (AEO), down fractionally, Abercrombie & Fitch (ANF) down 2.4%, Buckle (BKE) down 1.3%, and Guess? (GES), down 1%.
October 7, 2015
11:12 EDTURBNCiti favors lululemon in retailing, says sell Penny and Kors
Citi analyst Paul Lejuez rolled out coverage of 20 companies in the Specialty Retailing and Department Stores space, recommending to investors that they sell J.C. Penney (JCP) and Michael Kors (KORS) shares and buy stock in lululemon (LULU). SELL J.C. PENNEY: Commenting on the "stormy sector" in general terms, Lejuez said he believes challenges to the retail industry are here to stay, but that there are still stand-outs on both the positive and negative side. Regarding J.C. Penney specifically, Lejuez told investors that the company's management is in a "tough spot," as they need to recover from a prior failed strategy but don't have the needed cash flow to invest and win back customers. The analyst think Penney will see some improvement in the top line, but that any increases in operating cash flow as a result of sales and margin improvement will be matched by increased capital expenditures, meaning that free cash flow will be "elusive for the foreseeable future. Lejuez started shares of J.C. Penney with a Sell rating and $7 price target. SELL KORS: Among the 20 stocks he started coverage on in the space, Michael Kors was the only other Sell rating the analyst issued. Lejuez believes the company has overdistributed its brand and though U.S. comparable sales have just started to decline he thinks this decline will last for the "foreseeable future." Lejuez, who contends that Europe and wholesale may be next to deteriorate, set a $38 price target on the stock. BUY LULULEMON: Among the ten Buy rating issued this morning, Lejuez said his most preferred stock in the bunch is yoga apparel maker lululemon. The analyst thinks the "athleisure" retailer has moved beyond its prior product and public relations missteps and that its international opportunities will provide the next leg of growth for the company. The analyst, who expects double-digit sales growth for the next several years for lululemon, set a $69 price target on its shares. His other Buy-rated names, in order of preference, include TJX (TJX), Tiffany (TIF), Urban Outfitters (URBN) and Ross Stores (ROST). PRICE ACTION: In morning trading, J.C. Penney fell 2.7% to $9.52, Michael Kors slipped 0.3% to $43.24 and lululemon shares rose 2.2% to $52.86.
10:01 EDTURBNOn The Fly: Analyst Initiation Summary
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07:34 EDTURBNUrban Outfitters initiated with a Buy at Citi
Target $40.
07:29 EDTURBNJ.C. Penney initiated with a Sell, $7 target at Citi
Citi analyst Paul Lejuez started shares of J.C. Penney (JCP) with a Sell rating and $7 price target. The retailer closed yesterday down 6c to $9.73. The company's goals are aggressive while its free cash flow is "elusive," Lejuez told investors this morning in a research note. He initiated 19 other companies in the Specialty Retailing and Department Stores space. His Buy-rated names, in order of preference, include lululemon (LULU), TJX (TJX), Tiffany (TIF), Urban Outfitters (URBN) and Ross Stores (ROSS).

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