Urban Outfitters Inc. (NASDAQ:URBN) soared as much as 11 percent in
early trade after the retailer said the fourth-quarter comparable-store
sales in its retail segment are growing in the mid single-digit.
The Philadelphia, Pennsylvania-based retailer, which owns the Urban
Outfitters, Anthropologie, Free People, Terrain and BHLDN brands, issued
the quarterly update in a regulatory filing with the Securities and
Last month, the company posted third-quarter net income of $50.7
million or 33 cents per share, on sales of $610 million. Comparable
retail segment net sales, which include the direct-to-consumer channels,
fell 3 percent for the quarter, while comparable store net sales
decreased 7 percent.
Urban Outfitters operates more than 400 stores worldwide and sells its products through catalogs and online.
The stock is currently up 7.8 percent to $28.54 in early trading on
Tuesday. The shares have been trading in the 52-week range between
$21.47 and $39.26.