Urban Outfitters (NASDAQ:URBN) reported first quarter earnings after the bell today, that missed street view.
On a GAAP basis, URBN reported net income of $ 11.94 million or 10 cents per share, compared with income of $ 29.56 million or 25 cents per share, a year ago period.
Headquartered in Philadelphia, Pennsylvania, URBN recorded Net Sales that slipped to $ 761.19 million from $ 762.58 million in the same quarter last year.
Analysts polled by Thomson Reuters expected Urban Outfitters to reveal income of $ 0.16 per share on revenue of $ 769.81 million for the first quarter.
Richard A. Hayne, CEO, said: During the first quarter we continued to see strong double-digit growth from our direct-to-consumer channel and our wholesale business, We believe we have significant opportunity to continue to grow both of these channels at all of our brands.