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.
Featured Image: twitter
