Nordstrom, Inc (NYSE:JWN) and Urban Outfitters, Inc (NASDAQ:URBN) were soaring over 11 percent and 9 percent, respectively, on Wednesday after the retailers reported first-quarter financial results.
For the first-quarter 2022, Nordstrom reported a loss of 6 cents per share, which slightly missed the consensus estimate of a loss of 5 cents and revenues of $3.46 billion, beating the $3.28-billion estimate.
Urban Outfitters’ results were less impressive. The company reported EPS of 33 cents on revenues of $1.05 billion for the first quarter of 2022, which missed the consensus estimate an EPS of 42 cents on revenues of $1.07 billion.
Analysts weighed in on both stocks, consistently lowering their price targets. Nordstrom price targets issued on Wednesday came in between $27 and $31 and Urban Outfitters’ range from $29 to $39 at the high end….