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Urban Outfitters Misses Fourth Quarter Forecasts

The results missed Wall Street expectations by one cent.

Associated Press

07 March 2017

PHILADELPHIA, United States — Urban Outfitters Inc. on Tuesday reported fiscal fourth-quarter net income of $64.3 million.

On a per-share basis, the Philadelphia-based company said it had profit of 55 cents.

The results missed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The clothing and accessories retailer posted revenue of $1.03 billion in the period, matching Street forecasts.

For the year, the company reported profit of $218.1 million, or $1.86 per share. Revenue was reported as $3.55 billion.

Urban Outfitters shares have decreased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 6 percent. In the final minutes of trading on Tuesday, shares hit $25.41, a drop of roughly 10 percent in the last 12 months.

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