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Urban Outfitters Beats 2Q Profit Forecasts

Urban Outfitters Inc. on Monday reported fiscal second-quarter earnings of $66.8 million. The results surpassed Wall Street expectations.
By
  • Associated Press

PHILADELPHIA, United States — Urban Outfitters Inc. on Monday reported fiscal second-quarter earnings of $66.8 million.

The Philadelphia-based company said it had profit of 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The clothing and accessories retailer posted revenue of $867.5 million in the period, which missed Street forecasts. Twelve analysts surveyed by Zacks expected $883.8 million.

Urban Outfitters shares have fallen almost 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. In the final minutes of trading on Monday, shares hit $32.12, a decrease of 11 percent in the last 12 months.

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