Urban Outfitters, Inc. URBN shares are soaring up over 8 percent after reporting record third quarter sales.
The clothing retailer turned in third quarter EPS of 41 cents, beating estimates by 8 cents. Sales came in $32 million higher than estimates at $893 million.
“I am pleased to announce record third quarter sales, positive retail segment comps at all three brands and another strong performance from Free People wholesale,” said CEO Richard A. Hayne. “Record sales were driven by improved apparel execution across all channels and brands."
Q3 Highlights
- Comps increased 1 percent.
- Net sales increased 3.5 percent year-over-year.
- Wholesale net sales increased 8.7 percent.
Shares of Urban Outfitters were up 9 percent after hours, at last check trading at $30.69.
Related Links:
The Week Ahead For Nov. 20: A Short Holiday Trading Week That Still Offers Several Catalysts
Cramer: These 3 Retailers Don't Need To Worry About Amazon's Threat
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.