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Urban Outfitters shares down 4% after earnings

Shares of Urban Outfitters Inc. URBN, -2.55% fell greater than four% past due Tuesday after the retailer reported first-quarter profits and gross sales above Wall Street expectations. Urban Outfitters stated it earned $41 million, or 38 cents a share, in the quarter, when put next with $12 million, or 1 cent a share, in the year-ago period. Sales rose to $856 million, from $761 million a year in the past. Analysts polled by FactSet had expected profits of 31 cents a share on gross sales of $838 million for the quarter. Urban Outfitters stock ended the common buying and selling day down 2.6%.