Urban Outfitters Surprises With Double-Digit Growth

NEW YORK (TheStreet) Urban Outfitters (URBN) 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.

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

More from Investing

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever