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Summary
- DICK’s Sporting raised its revenue, earnings outlook for fiscal 2021.
- Urban Outfitters’ comparable retail segment sales grow 51 percent in Q1.
- Nordstrom’s Q1 net sales jumped 44 percent year over year.
Stocks of DICK'S Sporting Goods, Inc. (NYSE:DKS) and Urban Outfitters, Inc. (NASDAQ:URBN) rallied up to 18 percent and 16 percent, respectively, while Nordstrom, Inc. (NYSE:JWN) dropped 10 percent in Wednesday's trading.
The U.S.-based three apparel retailers reported their fiscal Q1 results on Tuesday. DICK's Sporting and Urban Outfitters swung to a profit, while Nordstrom narrowed its net loss during the quarter.
DICK'S Sporting Goods, Inc. (NYSE:DKS)
The sporting goods retailer said its first-quarter net sales more than doubled to US$2.92 billion as consolidated same-store sales jumped 115 percent year over year. CEO Lauren Hobart attributed the growth to the recovery in its team sports business.
DICK'S Sporting's income totaled US$361.8 million, or US$3.41 per share, compared with a loss of US$143.4 million, or US$1.71 per share, in the same quarter of the previous year. It logged a non-GAAP net income of US$367.2 million, or US$3.79 per share.
The company now expects its full fiscal year 2021 EPS in the range of US$7.05 to US$7.68, while non-GAAP EPS is anticipated between US$8 to US$8.70. It expects net sales to be in the range of US$10.51billion-US$10.80 billion.
DICKS's Sporting has a market capitalization of US$8.76 billion. The stock has grown around 75 percent this year.
Also read: Kohl’s Stock Plunges Despite Improved Forecast
Urban Outfitters, Inc. (NASDAQ:URBN)
The Pennsylvania-based lifestyle retailer’s total net sales increased 57.6 percent year over year to US$927.4 million in the fiscal first quarter as comparable retail segment sales rose 51 percent.
The company saw its net sales in the retail segment grow 53 percent, while wholesale segment net sales surged 196 percent.
Urban Outfitters posted a net income of US$53.5 million, or 54 cents per share, during the three months ended April 30, compared with a net loss of US$138.4 million, or US$1.41 per share, in the year-ago quarter.
CEO Richard A. Hayne said the sales trend in May increased further, which could boost the second-quarter results.
Urban Outfitters has a market capitalization of US$3.76 billion; its share price is up 52 percent year to date.
Source: Pixabay
Nordstrom, Inc. (NYSE:JWN)
For the first quarter ended May 1, Nordstrom’s net sales grew 44 percent year over year. Revenue increased to US$3.01 billion from US$2.12 billion in the year-ago quarter.
The department store operator had temporarily closed its stores during half of the first quarter in fiscal 2020. Sales fell 13 percent in comparison to Q1 of 2019.
Nordstrom’s net loss narrowed to US$166 million in the first quarter from a loss of US$521 million in the year-ago quarter.
Meanwhile, Nordstrom reaffirmed its previous outlook for the fiscal 2021including a 25 percent revenue growth.
Nordstrom has a market capitalization of US$5.42 billion, and its stock grew around 10 percent year to date.
Also Read: Target’s Stock Up 4% On Strong Q1 Earnings
