Retailer Urban Outfitters' (NASDAQ:URBN) shares slumped more than 8% initially on Wednesday after its fourth quarter results for fiscal-year 2017 missed analyst estimates.
The company reported earnings per diluted share of $0.55 for the fourth quarter of 2016, missing analyst expectations by a penny, down from $0.61 earned during the same period a year ago.
Diluted earnings per share for the year ending January 31, were $1.86.
With less than an hour of trading to go Urban’s shares were still 2.5% lower at $24.76 on Wednesday.