Urban Outfitters’ Excellent Results Propel Stock To New Highs

Co-founder Richard Hayne, rehired and appointed as CEO by Urban Outfitters, Inc. (NASDAQ:URBN), seems to have worked his magic with the company’s performance.

Urban Outfitters, Inc. (NASDAQ:URBN) beat estimates when it declared its second quarter results today – the stock rose to a high of $37.65, also a new 52-week high, up over 18% in the single largest intra-day rise since 2003.

Net earnings rose over 8 percent to $61.3 million (42 cents a share) from $56.7 million (35 cents a share) in the year ago period, and ahead of expectations of 33 cents a share. Net sales were up 11...