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Urban Outfitters Surprises With Double-Digit Growth

NEW YORK (TheStreet) Urban Outfitters (URBN - Get Report) was climbing in post-market trading, after beating estimates on the top and bottom line.

For the three months ended October, the lifestyle and apparel retailer recorded net income of 47 cents a share on revenue of $774 million, a 12% year-over-year increase. Analysts surveyed by Yahoo! Finance were hoping for earnings of 45 cents a share on $770.94 million in revenue.

Across its portfolio, the Philadelphia-based company saw comparable store sales rise 7%, boosted by 30% gains in sales for retail chain Free People and 13% for Anthropologie. Its flagship brand Urban Outfitters was off 1%.

Fueled by strong results at our Anthropologie and Free People brands, I am pleased to announce that URBN delivered record third quarter sales and operating profits, said CEO Richard A. Hayne in a statement.

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Heading into a shortened holiday shopping season (a result of a later-than-usual Thanksgiving Day), the company has tempered expectations.

We remain cautious about the fourth quarter given the likelihood of a highly promotional environment and this years challenging holiday calendar, added Hayne.

Shares added 1.2% to $40.10 in after-hours trading, erasing the 1.3% falls suffered throughout Monday.

--Written by Keris Alison Lahiff in New York

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