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Urban Outfitters Misses Third-Quarter Forecasts

Urban Outfitters Inc. on Tuesday reported fiscal third-quarter earnings of $47.4 million.

Urban Outfitters store | Source: Wikimedia

Associated Press

22 November 2016

PHILADELPHIA, United States — Urban Outfitters Inc. on Tuesday reported fiscal third-quarter earnings of $47.4 million.

On a per-share basis, the Philadelphia-based company said it had profit of 40 cents.

The results did not meet Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The clothing and accessories retailer posted revenue of $862.5 million in the period, also missing Street forecasts. Thirteen analysts surveyed by Zacks expected $872.6 million.

Urban Outfitters shares have risen 71 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 8 percent. In the final minutes of trading on Tuesday, shares hit $39.01, a climb of 68 percent in the last 12 months.

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