Urban Outfitters Falls on Q1 Results

released its fiscal first-quarter earnings results on Monday after the closing bell. Despite topping Wall Street earnings estimates, the stock was down around 3 percent in late trade to $43.11. The company posted net income of $47.1 million or $0.32 per share, compared to $34.0 million or $0.23 per share, in last year's corresponding period. This compared to analysts' consensus EPS estimates of $0.29. Net sales for the quarter were $648.18 million, a 14 percent gain versus the $568.93 million that URBN reported last year. This came up short of analysts' consensus sales estimates of $655.08 million.