Wed. Dec 11th, 2019

Urban Outfitters stock tanks after Q3 profit, sales misses

1 min read

Shares of Urban Outfitters Inc.

URBN, -4.54%

fell more than 11% in the extended session Tuesday after the retailer missed third-quarter profit and sales expectations. Urban said it earned $56 million, or 56 cents a share, in the quarter, compared with $78 million, or 70 cents a share, in the year-ago period. Sales rose 1.4% to $987 million, from $974 million a year ago, Urban Outfitters said. Analysts polled by FactSet had expected earnings of 57 cents a share on sales of $1 billion. Shares of Urban Outfitter ended the regular trading day down 4.5%.

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