The S&P 500 ticked up 0.64 points, or 0.05%, to close at 1,316.63.
Shares of Urban Outfitters rose 7.42% to $28.10. After Monday's closing bell, the specialty fashion retailer reported a first-quarter profit that was higher than Wall Street's consensus estimate.
Urban Outfitters' first-quarter earnings were $34 million, or 23 cents a share, down from year-earlier earnings of $38.6 million, or 23 cents a share.Revenue in the quarter rose almost 9% to $568.9 million from $524 million a year earlier. Urban Outfitters' stock trades at an estimated price-to-earnings ratio for next year of 15.58X; the average for apparel retailers is 13.67X. For comparison, American Eagle Outfitters (AEO) has a lower forward P/E of 14.62X. The stock has risen 1.96% year to date.
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