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Urban Outfitters Inc. (URBN) announced its financial results for the fourth quarter of fiscal year 2013, reporting results that beat estimates. The company, which markets and sells its namesake brand as well as Anthropologie and Free People, posted earnings of $0.59 per share that beat analyst expectations of $0.55 per share. Gross margin improved to 36.7% while gross profit increased 5.8% to $332M. Operating income fell 2.1% to $129.1M. During the fiscal year, 16 new Urban Outfitters stores were opened along with 13 Free People stores and 9 Anthropologie stores. In the upcoming fiscal year the company expects to open a total of 38 new stores. Urban Outfitters finished the quarter with $242.1M in cash and cash equivalents with shareholders’ equity of $1.69B.