Forecast Of The Day: Urban Outfitters Stores & Internet Revenue Per Square Foot
What?
Urban Outfitters (NASDAQ:URBN) Stores & Internet Revenue per Square Foot declined from $842 in 2019 to $739 in 2020. However, Trefis expects the metric to rise to $932 in 2021 and $969 in 2022.
Why?
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While sales declined considerably in 2020 due to the Covid-19 pandemic, we expect a rebound in 2021 and 2022 driven by stronger performance of the company’s online channel and recovery of traffic at retail stores.
So What?
We don’t think the recovery is fully priced into URBN’s stock just yet. We value URBN at about $35 per share, about 20% ahead of the current market price.
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