Urban Outfitters Inc. shares fell in the extended session Monday after the retailer’s earnings and revenue came in above the Wall Street consensus but comparable sales did not.
Urban Outfitters
URBN,
shares dropped 10% after hours, following a 3% rise to close the regular session at $37.27.
The company reported third-quarter net income of $88.9 million, or 89 cents a share, compared with $76.7 million, or 78 cents a share, in the year-ago period.
Revenue rose to $1.13 billion from $969.6 million in the year-ago quarter, while comparable retail segment sales rose 14%. The company said double-digit growth in digital sales offset mid single-digit declines in retail store sales.
Analysts surveyed by FactSet had forecast earnings of 84 cents a share on revenue of $1.12 billion and same-store sales growth of 15.2%.
Sales at the namesake chain were $415.9 million, while Anthropologie sales totaled $431.4 million, and Free People brought in $265 million in sales.
This post was originally published on Market Watch
