Urban Outfitters Beats Estimates; Shares Rise (URBN)

Urban Outfitters Inc. URBN reports Q2 EPS of $0.42 versus estimates of $0.39. Urban Outfitters Inc. reports revenues of $552.2 million versus estimates of $542.09 million. Revenues increased 20% year over year. Inventories grew by $26 million or 12%, on a year-over-year basis, driven by the acquisition of inventory to stock new retail stores. "We are delighted to announce record second quarter sales and earnings, with every brand, channel, region and shared service group delivering exceptional results," said Glen T. Senk, Chief Executive Officer. "Given the context of an uncertain economic environment, the Company continues to focus on superior creative execution combined with disciplined inventory and expense management," finished Mr. Senk. Shares of URBN are higher on the after-hours by 2.55%