Urban Outfitters Post Strong 3rd Quarter

Published by: Kelly Curtis on 16th Nov 2010 | View all blogs by Kelly Curtis
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Urban Outfitters Post Strong 3rd Quarter

Retailer Urban Outfitters Inc. posted third-quarter results on Monday, reporting a 17 percent increase in net income driven by stronger sales in the period.

The company reported earnings of $73.1 million, or 43 cents per share, compared with earnings of $62.4 million, 36 cents per share, in the same quarter of 2009.  Revenue for the retailer grew more than 13 percent to $573.6 million.

Economists participating in a recent Thomson Reuters survey had forecast earnings of 42 cents per share on revenue of $573.6 million for the company.  The company's namesake brand, and its largest, enjoyed a revenue increase of 11 percent to about $266 million for the quarter, while revenue for its Anthropologie brand climbed 14 percent to $247.5 million for the quarter.

Shares of Urban Outfitters climbed 44 cents in aftermarket trading after the report to open Tuesday's session at $33.18, after falling 17 cents in Monday's session to $32.74.

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