Urban Outfitters & Macy´s lead Wall StreetFriday, 06 January 2012
After reporting record sales in December, shares of Urban Outfitters traded down 2.04% during mid-day trading on Thursday, hitting $27.83. Urban Outfitters has a 52 week low of $21.47 and a 52 week high of $39.26. The stock’s 50-day moving average is $26.81 and its 200-day moving average is $27.05. The company has a market cap of $4.013 billion and a price-to-earnings ratio of 20.95.
Macy's benefited from its efforts to tailor merchandise to local markets, reported trade media. It posted a 6.2 per cent increase in December, beating Wall Street's estimate of 5 per cent. For November and December combined, revenue at stores opened for a year rose 5.7 per cent. The exclusive department stores said it would doubled its quarterly dividend to 20 cents a share, and its board approved a $1 billion stock buyback program.
Finally, J.C. Penney posted a 0.3% rise in comparable-store sales when a 0.1% decline was expected, but said comparable-store sales for the fourth quarter will be down slightly compared with a year earlier because of a softer sales performance during the holiday season. The retailer slashed its fiscal fourth-quarter guidance as a result. IN comparison, Nordstrom Inc. (JWN, $50.23, +$0.15, +0.30%) posted an 8.7% increase when 5.1% was projected and Saks Inc. (SKS, $9.60, -$0.24, -2.44%) met expectations with a 5.8% rise.