Retailers Slip After Earnings (URBN, KSS)

Shares of some retailers are down today after reporting earnings. Urban Outfitters URBN reported first quarter earnings today that topped expectations but shares fell. The company reported earnings of 31 cents per share, ahead of the 30 cents Wall Street was expecting. Gross profit margin increased by 459 basis points. However, investors were concerned that increased expenses and tougher earnings comparisons would limit upside potential in the stock. Shares of Urban are down $1.87, or 4.75%, to $37.54. Kohl's KSS reported first quarter earnings of 64 cents per share, ahead of the 62 cent consensus. However, the company issued downside guidance for the second quarter, sending shares lower. Kohl's said it sees second quarter EPS of 70-75 cents per share versus the 88 cent consensus. Shares of Kohl's are down $2.90, or 5.07%, to $54.25.