Urban Outfitters Reports Q4 Revenue Beat, EPS Misses

Urban Outfitters (NASDAQ:URBN) reported its Q4 results, with EPS of $0.34 coming in worse than the Street estimate of $0.38, while revenue of $1.38 billion beat the Street estimate of $1.37 billion. Revenue growth was driven by solid results at Anthropologie and Free People (up 9% and 15%, respectively), while Urban Outfitters was down 10%.

The brand continues to be negatively impacted by the macro environment in North America along with the supply chain disruption given Urban Outfitters’ reliance on ocean freight.

Moving ahead, management highlighted improvements in the supply chain and the ability to chase, but still expect trends to remain tough in Q1 (comps expected to be similar to Q4) with opportunity for improvement in Q2 and beyond.