Urban Outfitters Trades Higher After Q2 Earnings Beat

Urban Outfitters, Inc. URBN shares are up after reporting a second-quarter earnings beat.

Earnings came in at 61 cents per share, beating estimates by 3 cents. Sales came in at $962 million, missing estimates by $18.61 million.

"I am pleased to report that customer reaction to our early fall apparel assortments have improved significantly from our second quarter results," said CEO Richard A. Hayne. "Third quarter-to-date ‘comp' sales are positive at all three brands."

Highlights

• Free People comp sales up 6%
• Anthropologie comps down 3%
• Urban Outfitters comps up 5%

Urban Outfitters shares traded higher by 5% to $21.97 in Tuesday's after-hours session. The stock closed at $20.91 per share.

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Photo credit: Mike Mozart, Flickr