Why Urban Outfitters Stock Is Rising After Hours

Urban Outfitters, Inc. URBN shares are trading higher in Tuesday's after-hours session after the company reported second-quarter earnings. Here's a summary of the details.

What To Know: The company reported quarterly earnings of $1.10 per share which beat the analyst consensus estimate of 89 cents, a 71.88% increase over earnings of 64 cents per share from the same period last year. The company reported quarterly sales of $1.27 billion, which beat the analyst consensus estimate of $1.25 billion, a 7.52% increase over sales of $1.18 billion the same period last year.

Urban Outfitters reported that total inventory decreased by 15.9% year-over-year as of July 31.

"We are proud to report record second quarter sales that helped drive a 72% increase in EPS," said Richard A. Hayne, CEO. "Also gratifying is that Q2's sales strength has continued to date in Q3."

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URBN Price Action: Shares of URBN were up 2.79% at 35.05 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Michal Jarmoluk from Pixabay