May 22, 2018 / 8:11 PM / 5 months ago

Urban Outfitters first-quarter sales beat estimates

May 22 (Reuters) - Apparel retailer Urban Outfitters Inc reported quarterly sales that beat analysts’ estimates on Tuesday, driven by higher sales on its online platform and at its stores.

Net income rose to $41.3 million, or 38 cents per share, in the first quarter ended April 30, from $11.9 million, or 1 cent per share, a year earlier.

Net sales rose 12.4 percent to $855.7 million, beating analysts’ average estimate of $838.1 million, according to Thomson Reuters I/B/E/S. (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

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