Fashion stocks closed the session Thursday led by Urban
Outfitters´ strong Q4 sales, and Lululemon Athletica and Under Armour, which both were flirting with record hights.
Urban Outfitters, Inc. Thursday announced record net sales for the quarter and year ended January 31, 2012. For the fourth quarter of fiscal 2012, total company net sales increased 9% over the same quarter last year to $731 million.
The stock rose as much as 3 percent, before shedding some gains to trade up nearly 1 percent at $27.35 on Thursday afternoon on the Nasdaq. Sales in the fourth quarter rose 9 percent to$731 million, but came in below analysts' expectations of $741.9 million, according to Thomson Reuters I/B/E/S.
Meanwhile, both Lululemon Athletica (LULU) and Under Armour (UA) opened high in Wall Street after closing Wednesday at $64.77 per share, hitting an all-time record high at $65.45, intra-day, in the case of LULU. Under Armour also has seen its stock about to hit all-time record highs with a close Wednesday at $81.60 per share.
In Europe, Hermes´revenue climbed 18 percent to 2.84 billion euros ($3.78 billion) in 2011, the Paris-based company said today in a statement. That compares with the 2.81 billion-euro average of 16 analysts’ estimates compiled by Bloomberg. Sales growth was driven by the Americas and Asia excluding Japan, Hermes said. LVMH Moet Hennessy Louis Vuitton SA (MC), owns a 22.4 percent stake in Hermes, has said it sees no sign that a softening economic climate is causing a slowdown in Europe. Hermes isn’t too worried about the fallout from the region’s debt crisis as it has more orders than it can fulfill, Chief Executive Officer Patrick Thomas has said. “Hermes will continue to invest in developing its production capacity and its distribution network, with the opening or renovation of some 15 branches” in 2012, the company said in a statement Thursday. Hermes will pay a dividend of 1.50 euros a share on March 1, the company said.