Last $34.91 USD
Change Today +0.98 / 2.89%
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urban outfitters inc (URBN) Key Developments

American Apparel Reportedly Needs Merger

American Apparel, Inc. (AMEX:APP) may need to find a merger candidate or a retailer to buy it out, reported 24/7 Wall St citing person familiar with the situation. Battles between current creditors could put American Apparel in the untenable position of having several lenders insist that it pay their loans all at the same time. The tug-of-war over control of American Apparel has already gotten violent. Lion Capital LLP has indicated it is ready to take legal measures to ensure that American Apparel makes the payment, pending last-minute negotiations with one of the clothing company’s most important shareholders, the hedge fund Standard General L.P., reported The New York Times citing one person with knowledge of the situation. If these lenders believe that American Apparel is not a prospect for success as a standalone company, they may allow the calls on their loans to push the value of common shares to zero, essentially taking over the company. At that point, they would face having to add new management, and perhaps a new board, to run American Apparel as an independent operation. This would probably involve in infusion of more money, or at least a restructuring of debt to extend payment terms. Or they could seek a healthier partner. There are several places American Apparel could turn for such a marriage. Among them is Abercrombie & Fitch Co. (NYSE:ANF) and Urban Outfitters Inc. (NasdaqGS:URBN). In either case, if the sale is driven by creditors, there is a very good chance common stockholders will get nothing.

Urban Outfitters Plans Second Palm Beach County Location

Urban Outfitters signed a lease for a new space in Delray Beach. The 10,954-square-foot store is located at 306 Atlantic Avenue in Delray Beach and is planned to open by the end of the year.

Urban Outfitters Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended April 30, 2014; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2015; Plans to Open 35 to 40 New Stores

Urban Outfitters Inc. reported unaudited consolidated earnings results for the first quarter ended April 30, 2014. For the quarter, the company reported net sales of $686,310,000 compared to $648,177,000 a year ago. Total company sales for the quarter increased by 6%. This increase was driven by a $29 million increase in non comparable store sales, opening 5 new stores and a 27% jump in wholesale segment sales. Income from operations was $59,821,000 compared to $72,966,000 a year ago. Income before income taxes was $59,477,000 compared to $72,837,000 a year ago. Net income was $37,478,000 or $0.26 per basic and diluted share compared to $47,058,000 or $0.32 per basic and diluted share a year ago. If current trends continue, the company expects gross margin for the second quarter could deleverage versus the prior year similar to first quarter due to lower product margins and property expense deleverage resulting from continued weakness at the Urban Outfitters brand. For fiscal year 2015, annual effective tax rate is planned to be approximately 35%. Capital expenditures for fiscal year 2015 are planned at approximately $215 million to $235 million, driven primarily by a fulfillment center in Gap, Pennsylvania, the expansion of home office and new stores. The company is planning to open approximately 35 to 40 new stores during the year. By brand, it is planning approximately 12 new Urban Outfitters stores globally including 3 new European stores, 15 new Anthropologie stores globally including 3 new European stores and 12 new Free People stores in North America.

Urban Outfitters Inc. Presents at Piper Jaffray 34th Annual Consumer Conference, Jun-11-2014 11:15 AM

Urban Outfitters Inc. Presents at Piper Jaffray 34th Annual Consumer Conference, Jun-11-2014 11:15 AM. Venue: The New York Palace Hotel, New York, New York, United States.

Urban Outfitters Inc., Q1 2015 Earnings Call, May 19, 2014

Urban Outfitters Inc., Q1 2015 Earnings Call, May 19, 2014

 

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URBN Competitors

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Company Last Change
Abercrombie & Fitch Co $38.77 USD +0.12
American Eagle Outfitters Inc $10.59 USD +0.15
Chico's FAS Inc $16.29 USD +0.19
Guess? Inc $26.90 USD +0.10
Kate Spade & Co $40.45 USD +0.47
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URBN

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Valuation URBN Industry Range
Price/Earnings 18.5x
Price/Sales 1.6x
Price/Book 3.4x
Price/Cash Flow 17.1x
TEV/Sales 1.4x
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