Urban Outfitters (URBN) Reports First-Quarter Results; Shares Up In Pre-Market Trading

Urban Outfitters, Inc. URBN reported its first-quarter results today. The company reported first-quarter profit of $53 million, or $0.31 per share, compared with a profit of $30.8 million, or $0.18 per share it reported for the same period last year. Sales increased by 25% to $480 million in the quarter. Same-store sales were up by 11% in the quarter. Gross margin improved by 500 basis points to 42%. Analysts surveyed by Thomson Reuters were on average expecting Urban Outfitters to report a profit of $0.30 per share. Shares of Urban Outfitters, Inc. were up by 0.48% to $39.60 in pre-market trading today.