Urban Outfitters rises on 1Q sales outlook
Urban Outfitters says sales at older stores up by high single digits in early part of 1st qtr
NEW YORK (AP) -- Shares of Urban Outfitters Inc. rose in aftermarket trading Monday after the retailer said it is off to a strong start over the first two months of its fiscal first quarter.
In a form filed with the Securities and Exchange Commission, Urban Outfitters said sales at locations open at least a year have grown in the high single digits. The company's fiscal first quarter started Feb. 1.
The Philadelphia company owns the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands
Sales at stores open at least a year are considered an important measurement of retailer health because they exclude results from stores that have opened or closed within the last year, focusing on stores that have stayed in operation. FactSet says analysts expect growth of 9.1 percent on average.
Urban Outfitters stock gained $1.58, or 4 percent, to $39.99 in aftermarket trading. The shares fell 33 cents to $38.41 during the regular trading day.
