Shares of Urban Outfitters fell 6 percent in after-hours trading after the company’s third-quarter sales came in short of Wall Street estimates.
Net income gained 10.3 percent to $52 million, or 42 cents a share, from $47.1 million, or 35 cents, a year earlier. Revenues for the three months ended Oct. 31 inched up 1.3 percent to $825.3 million from $814.5 million with a 1 percent comparable sales gain. Retail comps rose 3 percent at Free People, 1 percent at the namesake chain and were flat at Anthropologie.
Earnings were in line with what Wall Street analysts projected on average, but overall sales were almost $47 million shy of expectations.
That helped push the stock down $1.42 to $21.25 in after-hours trading, which came on top of a 7.4 percent drop in regular trading that followed word that the company had acquired The Vetri Family restaurant business.