August 21, 2018 / 8:13 PM / a month ago

Urban Outfitters tops quarterly sales estimates

Aug 21 (Reuters) - Apparel retailer Urban Outfitters Inc reported second-quarter sales that beat analysts’ estimates, helped by lower markdowns at its stores, sending its shares up about 3 percent after the bell on Tuesday.

Net income rose to $92.8 million, or 84 cents per share, in the quarter ended July 31, from $49.9 million, or 44 cents per share, a year earlier.

The company’s net sales rose 13.7 percent to $992.5 million, beating analysts’ average estimate of $979.9 million, according to Thomson Reuters I/B/E/S. (Reporting by Karina Dsouza and Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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