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

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.