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Urban Outfitters Misses 1Q Forecasts

Urban Outfitters Inc. on Monday reported fiscal first-quarter earnings of $32.8 million. The results fell short of Wall Street expectations.

Associated Press

19 May 2015

PHILADELPHIA, United States — Urban Outfitters Inc. on Monday reported fiscal first-quarter earnings of $32.8 million.

The Philadelphia-based company said it had net income of 25 cents per share.

The results fell short of Wall Street expectations. The average estimate of 21 analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The clothing and accessories retailer posted revenue of $739 million in the period, which also missed Street forecasts. Fifteen analysts surveyed by Zacks expected $760.5 million.

Urban Outfitters shares have increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 3.5 percent. In the final minutes of trading on Monday, shares hit $40.74, an increase of 13 percent in the last 12 months.

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