Urban Outfitters stock wobbles after earnings beat
Urban Outfitters Inc. shares were volatile in the extended session Tuesday after the retailer topped Wall Street estimates for the quarter. Urban Outfitters shares, which had been up as much as 5% after hours, were last down 1% following a 0.2% rise to close the regular session at $27.00. The company reported first-quarter net income of $32.6 million, or 31 cents a share, compared with $41.3 million, or 38 cents a share, in the year-ago period. Revenue rose to $864.4 million from $855.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 25 cents a share on revenue of $854.7 million. Urban Outfitters also announced a subscription rental service for woman's clothes called Nuuly. Subscribers will pay $88 for a six-item box per month drawing from Urban Outfitters and third-party brands.
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