Urban Outfitters, Inc. (URBN), a company that specializes in retail and wholesale of general consumer products yesterday reported their second quarter 2017 financial results.

Urban reported adjusted second quarter earnings of $0.44 per share which beat analyst expectations of $0.37 per share and reported revenues of $872.9 million which also beat analyst expectations of $863.9 million.   

Urban Outfitters, Inc. CEO’s  Comments

“While we are disappointed in our second quarter performance, we have a number of initiatives underway including: speed to customer, international growth, wholesale expansion and digital investments,” said Richard A. Hayne, Chief Executive Officer. “We believe these initiatives combined with encouraging fashion apparel trends could lead to improved topline performance in future quarters,” finished Mr. Hayne.  Globe Newswire

URBN Technical Analysis

(Click on image to enlarge)

URBN opened trading yesterday at $17,45 which was down from the previous day’s trading close of $17.73. Shares closed trading yesterday at $16.82 and spiked up after hours to $20.22, equivalent to a 20% increase from the closing price. Taking a look at the daily chart we can see the last time URBN traded above these levels we have to go back to May 16th when it traded at  $20.46.

Taking a closer look at the daily chart we can see that before the spike up URBN had  been in an overall downward trend dating back to November 22nd, 2016 when it traded at $39.01. URBN has a float of 79.22 million shares and traded 3.40 times the normal daily trading volume on Tuesday.