Urban Outfitters Shares Rally As Earnings Beat Wall Street's Expectations

By Sue Chang Markets MarketWatch Pulse

Shares of Urban Outfitters Inc. climbed in Monday's extended session after the retailer posted better-than-expected earnings. Urban Outfitters reported its fourth-quarter earnings slid to $72.9 million from $80.3 million a year earlier but edged up on a per-share basis to 61 cents versus 60 cents. Revenue was flat at $1.01 billion. Analysts surveyed by FactSet had projected earnings of 56 cents a share on revenue of $1.01 billion. Comparable sales fell 2% in the quarter, steeper than the 1.9% drop forecast by analysts. Shares jumped 5.8% in after-hours trading.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.