March 4, 2010 / 11:14 AM / 9 years ago

UPDATE 1-Urban Outfitters Q4 profit tops Street

* Q4 EPS $0.45 vs est $0.40

* Q4 rev $588.5 mln vs est $585.4 mln

March 4 (Reuters) - Urban Outfitters Inc (URBN.O) posted a bigger quarterly profit that topped estimates as the clothing and home goods retailer’s bohemian styles sold well during the holiday season, and the company discounted less.

The operator of the Urban Outfitters, Anthropologie and Free People chains, which also sells clothes wholesale to other retailers, earned $77.7 million, or 45 cents a share, compared with $40.5 million, or 24 cents a share, a year earlier.

Last month, the company said sales for the fourth quarter ended Jan. 31 reached $588.5 million, a rise of 16 percent over last year.

Analysts, on average, were expecting the company to earn 40 cents a share, on revenue of $585.4 million, according to Thomson Reuters I/B/E/S.

During the quarter, gross profit margin improved by 771 basis points — a result of improved initial merchandise margins and a reduction in markdowns.

Shares of the company had closed at $33.40 Wednesday on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Aradhana Aravindan)

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