Urban (URBN) Outfitters Soars 13.5% on Strong Q3

We recently published 10 Big Names Feasting on Gains Ahead of Thanksgiving. Urban Outfitters, Inc. (NASDAQ:URBN) is one of the best-performing stocks on Wednesday.

Urban Outfitters rallied for a second day on Wednesday, climbing 13.54 percent to finish at $77.56 apiece following a strong earnings performance in the third quarter of the year.

In an updated report on the same day, Urban Outfitters, Inc. (NASDAQ:URBN) said it netted $116 million during the period, marking a 12.7 percent jump from the $102.9 million in the same period last year.

Net sales surged by 12 percent to $1.529 billion from $1.362 billion year-on-year on the back of strong sales across all of its brands.

By segment, net sales from retail remained the strongest, up 9.6 percent year-on-year at $1.296 billion versus $1.182 billion. Subscription segment stood at $144.6 million, or a 48.7 percent jump from $97.2 million, while the wholesale segment grew by 7.5 percent to $88.27 million from $82.07 million.

Earnings per share stood at $1.28, or 16 percent higher than the $1.10 in the same quarter last year.

“We are pleased to report record revenues, profits, and earnings per share for the quarter,” said Urban Outfitters, Inc. (NASDAQ:URBN) CEO Richard Hayne. “Trends observed last quarter have remained consistent with broad-based comparable sales growth and robust results in the Retail, Subscription, and Wholesale segments. These results underscore the strength of our diversified business model, which enables us to continue capturing market share and drive consistent long-term growth,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.