Shares of Urban Outfitters Inc.
rose 3% in the extended session Tuesday after the retailer reported mixed second-quarter results, with profit above Wall Street expectations but sales that fell short. Urban said it earned $60 million, or 61 cents a share, in the quarter, compared with $93 million, or 84 cents a share, in the year-ago period. Sales fell 3% to $962 million. Analysts polled by FactSet had expected earnings of 59 cents a share on sales of $982 million in the quarter. Comparable-store sales also dropped 3%, driven by negative retail store sales partially offset by growth in digital sales, the company said. The analysts polled by FactSet had expected same-store sales to drop 2% in the period.
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