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Urban Outfitters Reported Mixed Q1 Results, Top Line Up 9%

Financial News Network
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May 18, 2011 AT 12:11 AM
Urban Outfitters (NASDAQ:URBN) reported Q1 EPS of $0.23, missing consensus estimates of $0.24 per share. Revenues for the quarter rose 9% year-over-year to $524.0 million, ahead of consensus estimates of $522.1 million.Comparable retail segment net sales, which include our direct-to-consumer channels, decreased 1% for the quarter while comparable store net sales decreased 5% for the quarter.Chief Executive Officer, Glen T. Senk said, "I am confident that we are on the right course to bring our business back to its high standards. I am encouraged by the progress each of the brands have made and anticipate improvements to occur gradually during the balance of this fiscal year."