Shares of Urban Outfitters (URBN) are off 96 cents, or 2.4%, at $38.43, despite the company this morning reporting Q1 revenue rose 25%, to $480 million, ahead of Street estimates for $477 million, and profit per share of 31 cents, better by a penny.
Same-store sales rose 11%, while the company’s direct-to-consumer sales, including catalogs and online, jumped 42%.
The company opened 9 new stores in the quarter, it said.
Urban’s conference call with management is getting underway now, and you can listen to it here.
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