Urban Outfitters Shares Increase after Sales Beat

    Author Caroline HarrisPosted on Categories Retail, ConsumerTags , , , , , , , , , , , , , , , , , , ,
    shares increase

    On Tuesday, right before the market closed, Urban Outfitters, Inc. (NASDAQ:$URBN) saw its shares increase more than 17%. It all started after the Pennsylvania-based company reported fiscal Q2 2018 sales and earnings per share that surpassed Wall Street expectations.

    Quick Facts:

    – The retailer earned $50 million (44 cents a share) in the quarter.

    – Total net sales hit $873 million, which were down 2% from $891 million in 2016.

    – Comparable retail segment net sales dropped 4.9%.

    – Wholesale segment net sales increased 10%.

    Analysts surveyed by FactSet had forecast earnings of 37 cents a share on sales of $862 million.

    shares increase

    Featured Image: twitter

    Author Caroline Harris
    About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.