Shares of Urban Outfitters surged more than 15 percent Wednesday after the company’s sales and earnings outpaced Wall Street estimates, helped by new fashions that resonated well with consumers.
The retailer on Tuesday reported fiscal second-quarter earnings of 66 cents per share on $891 million in revenue. Analysts expected earnings of about 56 cents a share on $886.8 million in revenue, according to a consensus estimate from Thomson Reuters.
“These results were driven by a positive retail segment ‘comp’ and substantial improvement in merchandise margins,” Richard Hayne, CEO of Urban Outfitters, said in a press release.
