TASE:URBCSpecialty Retail
Urbanica (TASE:URBC) Profit Rebound Revives Turnaround Case As Margin Questions Persist
Urbanica (Palo) Retail stock came into this earnings print looking beaten up, with the share price around ₪7.81 and a 90 day return that fell about 8%. The long term thesis has leaned on value and recovery potential. The headline from Q2 is simple: profitability is back.
Urbanica booked ₪278.9m in revenue for the quarter and swung from a small loss in Q1 to net income of ₪30.6m, equal to basic earnings per share of ₪0.22. For a retailer that has been priced as a problem stock, that earnings...