Urban Outfitters Surges as Sales Rise

NEW YORK ( TheStreet) -- Shares of retailer Urban Outfitters ( URBN) were up almost 4% after hours after the retailer reported a 9% rise in net sales.

Shares were up after hours by 3.8%, or $1.13, to $30.64.

For the fourth quarter of fiscal 2012, total company net sales increased 9% over the same quarter last year to $731 million. The company reported net income of $39.3 million and $185.3 million for the fourth quarter and the year ended Jan. 31, 2012, respectively. Earnings per diluted share were 27 cents for the quarter and $1.19 for the year.

Analysts polled by Thomson Reuters on average were expecting EPS of 29 cents on $741.35 million in revenue.

"I am pleased to announce record sales and operating profits for the quarter, as well as our second highest operating margin rate for the fourth quarter and year," said Glen T. Senk, CEO. "It was another year of strong performance as we delivered 17% sales growth, 22% operating income growth, and executed our long standing goal of growing profits faster than sales."
This article was written by a staff member of TheStreet.

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