Urban Outfitters Inc. shares rose Monday after the retailer's fiscal fourth-quarter results surpassed Wall Street estimates.
The Philadelphia-based clothing and accessories retailer said its net income totaled $80.3 million, or 60 cents per share, in the quarter that ended on Jan. 31. Analysts expected Urban Outfitters to report a profit of 57 cents per share, according to Zacks Investment Research.
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Still, Urban Outfitters said its profit was hurt by lower initial prices on its merchandise and larger discounts.
Revenue was $1.01 billion, matching analysts' estimate.
For the year, the company behind Urban Outfitters, Anthropologie and Free People reported a profit of $232.4 million, or $1.68 per share, on $3.32 billion in revenue. The company's fiscal fourth quarter ended on Jan. 31.
Shares rose $1.08, or 2.7 percent, to $40.59 in aftermarket trading Monday. The stock has closed at $39.51 Monday, up 12 percent in 2015 while the Standard & Poor's 500 index has added 1 percent.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on URBN at http://www.zacks.com/ap/URBN
Keywords: Urban Outfitters, Earnings Report