Urban Outfitters Trading Up 7% on Back of Q1 Results
Urban Outfitters (NASDAQ: URBN) released its fiscal first-quarter results after the closing bell on Monday. The company reported net income of $33.96 million or $0.23 per share, compared to $38.62 million or $0.23 per share, in last year's corresponding quarter. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.20.
Net sales in the quarter were $568.93 million from $524.02 million last year. This missed analysts' consensus revenue estimates of $579.33 million. Comparable store net sales fell 1% in the quarter.
During Tuesday's trading session, URBN shares jumped at the open and were last trading up roughly 7% at $27.98. Year-to-date, the stock has added a little more than 1%.
Urban Outfitters, Inc. is a lifestyle specialty retail company, which operates under the Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN brands.
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