Reuters: Global Markets: Urban Outfitters beats as styles work with shoppers

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Urban Outfitters beats as styles work with shoppers Aug 20th 2012, 22:50 Mon Aug 20, 2012 4:32pm EDT (Reuters) - Clothing retailer Urban Outfitters Inc's (URBN.O) quarterly results beat Wall Street expectations as more shoppers bought from its namesake store, sending its shares up about 6 percent after the bell. Profit rose to $61.3 million, or 42 cents per share, for the second-quarter, from $56.7 million, or 35 cents per share, a year earlier. Revenue at the company, known for its bohemian and hipster designs, rose 11 percent to $676.3 million. Analysts on average had expected earnings of 33 cents per share on revenue of $671.6 million, according to Thomson Reuters I/B/E/S. Urban Outfitters shares, which have risen 13 percent this year, were up at $33.12 in extended trading. They had closed at $31.28 on Monday on the Nasdaq. (Reporting by Arpita Mukherjee and Ranjita Ganesan in Bangalore; Editing by Supriya Kurane) (This story was corrected to fix closing price to $31.28 not $33.28 in the fifth paragraph)

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