Urban Outfitters Shares Slip After Sales, Same-store Sales Fall Short Of Estimates

Urban Outfitters Inc. shares fell 2% in Tuesday after-hours trading after the retail company pre-announced fourth-quarter sales and same-store sales that were below estimates. Urban Outfitters brands include its namesake retailer, Anthropologie and Free People. Revenue for the fourth-quarter was $1.03 billion, up from $1.01 billion last year, but below the $1.05 billion FactSet forecast. Same-store sales were flat, with Urban Outfitters up 2%, Free People up 1.2%, and Anthropologie Group down 2.9%. The FactSet estimate was a 1.4% increase. The company will report fourth-quarter and full fiscal-year 2017 results on Mar.7, 2017. Urban Outfitters shares are up 11.1% for the past year while the S&P 500 index is up 22% for the last 12 months.