- Urban Outfitters (URBN +4.5%) rallies after the company reported sales fell 6.9% in Q4 to $1.09B vs. $1.10B consensus and comparable retail segment net sales were down 7% during the quarter.
- Morgan Stanley keeps an Overweight rating after taking in the update.
- Analyst Kimberly Greenberger: "Y/Y digital growth nearly offset the shortfall in store revenue yielding a slightly negative URBN January comp. Positive Feb Week 1 results across brands suggest strong early spring fashion reads but it's early. An Anthro revenue recovery remains a catalyst for shares in 2021."
- The retailer's full earnings report is due out on March 2.