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Wed, April 1 at 7:00PM ET
 
 
 
 

3 Stocks to Watch on Friday: PriceSmart, Inc. (PSMT), Urban Outfitters, Inc. (URBN) and WD-40 Company (WDFC)

PSMT earnings fall, URBN exec steps down and WDFC posts profit beat

U.S. equities were rising Thursday as investors are less concerned about China tariffs than previously predicted. The S&P 500 Index gained 0.7%, the Dow Jones Industrial Average surged 1% and the Nasdaq Composite gained 0.5%.

3 Stocks to Watch on Friday: PriceSmart, Inc. (PSMT), Urban Outfitters, Inc. (URBN) and WD-40 Company (WDFC)It was a busy Thursday afternoon as PriceSmart, Inc. (NASDAQ:PSMT), Urban Outfitters, Inc. (NASDAQ:URBN) and WD-40 Company (NASDAQ:WDFC) all made headlines late in the day.

Here’s how they did:

PriceSmart, Inc. (PSMT)

PriceSmart shares were rising on the company’s latest quarterly report.

For its second quarter, the supermarket chain announced net income of $14.1 million, or 47 cents per diluted share, falling from the $27.2 million, or 90 cents per diluted share from the year-ago quarter. On an adjusted basis, the company earned 89 cents per share.

PriceSmart’s revenue tallied up to $839.6 million for the period, topping the year-ago sales of $793.3 million. The company’s net warehouse club sales surged 5.7% compared to the year-ago quarter, reaching $816.6 million versus the year-ago $772.3 million.

The company had 40 warehouse clubs in operation as of February 2018 and 39 clubs in operation as of February 2017.

PSMT stock rose 3.1% after the bell Thursday.

Urban Outfitters, Inc. (URBN)

Urban Outfitters announced that one of its main executives is departing.

The apparel brand said in a press release that Anthropologie Group CEO and President David McCreight will leave the company on April 27. Anthropologie is an Urban Outfitters brand, along with the company’s namesake brand, BHLDN, Free People and Terrain.

McCreight will be replaced by Hillary Super, Anthropologie Group president of Apparel and Accessories, which includes Beauty and BHLDN. She will lead the brand along with Andrew Carnie, Anthropologie, Group president of Home, Garden and International.

“We thank David for his six years of service to the Company during which time the Anthropologie group opened 60 stores and grew revenue by over 35%,” said Urban Outfitters President and CEO Richard A. Hayne.  “Both Hillary and Andrew are strong leaders and excellent merchants with a solid understanding of the Anthropologie customer. Anthropologie Group’s current business is particularly robust, and we are excited about both the near and longer-term opportunities for growth under their leadership.”

URBN shares slipped 1.4% after hours yesterday.

WD-40 Company (WDFC)

WD-40 reported on its latest quarter after hours Thursday, topping analysts’ earnings expectations.

The company posted earnings of $14.8 million, or $1.05 per share during its second quarter of fiscal 2018, topping the year-ago earnings of $12.3 million, or 87 cents per share. Analysts were calling for earnings of 95 cents per share, according to FactSet.

On the revenue front, WD-40 brought in $101.3 million, a 5% increase from the year-ago total of $96.6 million. Wall Street was calling for revenue of $102.5 million, according to FactSet.

The company also revised its revenue outlook for fiscal 2018, saying net sales growth will be between 7% and 9% with sales in the range of $407 million to $415 million.

WDFC stock declined 1.1% after Thursday’s market close.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/3-stocks-watch-friday-pricesmart-inc-psmt-urban-outfitters-inc-urbn-wd-40-company-wdfc/.

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