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Urban Outfitters Beats 4Q Profit Forecasts

Urban Outfitters Inc. on Monday reported fiscal fourth-quarter earnings of $72.9 million. The results exceeded Wall Street expectations.
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  • Associated Press

PHILADELPHIA, United States — Urban Outfitters Inc. on Monday reported fiscal fourth-quarter earnings of $72.9 million.

On a per-share basis, the Philadelphia-based company said it had net income of 61 cents.

The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The clothing and accessories retailer posted revenue of $1.01 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $1.02 billion.

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For the year, the company reported profit of $224.5 million, or $1.78 per share. Revenue was reported as $3.45 billion.

Urban Outfitters shares have climbed 24 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped 2 percent. In the final minutes of trading on Monday, shares hit $28.16, a drop of 27 percent in the last 12 months.

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