Urban Outfitters up 7% on Strong Q1 Results

Urban Outfitters URBN is trading higher on the session following its Q1 earnings announcement. The company reported an EPS of $0.23 vs $0.20 estimates and revenues of $568.9 million vs $579.33 million estimates. Chief Executive Officer, Richard A. Hayne stated: "We are pleased to announce record first quarter sales that were driven in part by positive regular price 'comp' sales. We are encouraged by the customer response to the steady progress our brands have made in creative and product execution." Urban Outfitters is currently trading at $28.08, a gain of $1.92 or 7.34%.