Urban Outfitters Jumps the Most Since 1993 IPO on Sales Progress
- CEO sees ‘encouraging fashion apparel trends’ in the pipeline
- Same-store sales declined, though far less than projected
An Urban Outfitters Inc. store in San Francisco, on Nov. 18, 2016.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Urban Outfitters Inc. surged the most since the apparel company went public 24 years ago, after its Free People and Anthropologie chains performed better than predicted, helping offset a slump at its flagship business.
Earnings in the quarter were 44 cents a share, the company said Tuesday. That topped the 36 cent-average of projections. On Wednesday, the retailer’s stock climbed as much as 27 percent to $21.31 in New York, the biggest intraday gain since November 1993.