Urban Outfitters, Inc. URBN shares spiked after reporting record fourth-quarter sales and earnings.
Adjusted earnings came in at 83 cents per share, beating estimates by 4 cents. Sales came in at $1.13 billion, beating estimates by $10 million.
"The fourth quarter closed what was an incredibly successful year for URBN and all of our brands," said CEO Richard A. Hayne. "I want to thank our associates worldwide for producing a record year and for their dedication, drive and creativity."
Highlights
- Net sales increased 3.7 percent year-over-year
- Comparable net sales increased 3 percent
- Anthropologie comps up 2 percent
- Urban Outfitters comps up 4 percent
- Free People comps up 4 percent
Urban Outfitters shares traded higher by as much as 3.5 percent in the after-hours session. At time of publication, the stock traded at $30.85 per share, up 1.65 percent.
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