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Urban Outfitters: Fiscal 1Q Earnings Snapshot

PHILADELPHIA (AP) _ Urban Outfitters Inc. (URBN) on Tuesday reported a fiscal first-quarter loss of $138.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Philadelphia-based company said it had a loss of $1.41. Losses, adjusted for asset impairment costs, were $1.31 per share.

The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The clothing and accessories retailer posted revenue of $588.5 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $640.9 million.

Urban Outfitters shares have dropped 35% since the beginning of the year, while the Standard & Poor's 500 index has declined 9.5%. In the final minutes of trading on Tuesday, shares hit $17.93, a decline of 33% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on URBN at https://www.zacks.com/ap/URBN