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Urban Outfitters Tops 2Q Forecasts

Urban Outfitters reported fiscal second-quarter earnings of $76.9 million.
Source: Urban Outfitters
By
  • Associated Press

PHILADELPHIA, United States — Urban Outfitters Inc. on Tuesday reported fiscal second-quarter earnings of $76.9 million.

The Philadelphia-based company said it had profit of 66 cents per share.

The results topped 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 $890.6 million in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $889.1 million.

Urban Outfitters shares have risen 37 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 7 percent. In the final minutes of trading on Tuesday, shares hit $31.25, a decline of 3 percent in the last 12 months.

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