Urban Outfitters Earning Surged

It was seen lately that Urban Outfitters Inc.'s earning in the fiscal first quarter earnings increased by 72%, crossing the analysts' estimates. In the middle of a broader sector recovery the retail outperformer continued to do well.

During the recession period it was also seen the operator of namesake stores and Anthropologie and Free People shops fared well. It was also noted that some retailers had posted improved results following 2009's results.

It was seen that for the quarter that ended on April 30, profit reports by Urban Outfitters $53 million or 31 cents a share. It was up more than $30.8 million, or 18 cents a share, a year earlier.

The analysts who were polled by Thomson Reuters had forecasted 30 cents.

An increase in the Gross margin was seen from 37% to 42% whereas the markdown decreased.

It was told by the company that the sales climbed 25% to $480 million. Increase of 11% was seen by Same store sales.

On Wednesday it was noticed that Urban Outfitters' shares closed at $39.41. In the past year the stock had more than doubled.

It was seen that the shares of the Philadelphia based company on Thursday were at $39.60. On Wednesday the shares were closed at $39.41 on Nasdaq.