Urban Outfitters Soaring After Record Third Quarter

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.

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