Urban Outfitters’ shares jump on Free People and Anthropologie performance
August 16, 2017
Shares in Urban Outfitters jumped as much as 20 percent in trading yesterday despite the company posting a decline in same-store sales of 4.9 percent during the second quarter. Wall Street was expecting Urban Outfitters to post a 6.4 percent decline in same-store sales. The retailer reported that sales at its Free People and Anthropologie chains help offset weakness in its flagship brand.
Recent News
New England’s Last Coal Plants to Close by 2028
In an agreement reached with the EPA and environmental groups, the last two coal plants in New Hampshire will cease operations in 2025 and 2028, respectively.
Databricks Spent $10 Million To Develop New DBRX Generative AI Model
Databricks invested around $10 million and two months in training to launch its latest generative AI model, DBRX, which it claims outperforms all other open-source models.
Costco’s Hot Dog Remains at $1.50 Despite Prices Spiking Elsewhere
Over the last few years, inflation has caused prices to creep up and impact pretty much everything. However, Costco is still keeping the price of its hot dog-soda deal where it is.
Home Depot Acquires SRS for $18.25B, Boosting Pro Sales
Home Depot recently announced its acquisition of SRS Distribution for a whopping $18.25 billion. This hefty investment marks the company’s boldest stride yet to seize a larger share of the professional market, particularly targeting contractors and roofers.