Why Urban Outfitters, Inc. Stock Popped Today

Shares of Urban Outfitters Inc. (NASDAQ: URBN) climbed 17.2% on Wednesday after the clothing retailer announced better-than-expected second-quarter results.

More specifically, Urban Outfitters' revenue during the quarter fell 2% year over year to $872.9 million, including a 3% decline in retail-segment sales to $790.6 million, and 10% growth in wholesale sales to $82.3 million. On the bottom line, that translated to net income of $49.9 million, or $0.44 per share, down from $76.9 million, or $0.66 per share in the same year-ago period.

By comparison -- as I noted when shares fell amid disappointing reports from Urban Outfitters' department-store peers last week -- Wall Street was expecting the company to post earnings of just $0.37 per share on lower revenue of $862 million.

Source: Fool.com