Market Globalist

Why Urban Outfitters, Inc (URBN) stock popup in the premarket on Wednesday?

Urban Outfitters Inc. (URBN) shares surged 9.61% in the premarket trading to $38.32 per share. Earlier, URBN’s stock gained 0.69% in the morning session and closed at $34.96 per share. URBN shares have risen 95.09% over the last 12 months, and they have moved down by 7.61% in the past week. Over the past three months, the stock has gained 0.89%, while over the past six months, it has added 15.32%.

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Recent financial results announcement

On May 25, 2021, Urban Outfitters reported its financial results for the first fiscal quarter of 2022, which ended on April 30, 2021.


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Q1 2022 financial highlights

Partnership with FABSCRAP

OnApril 19, 2021, Urban Outfitters, Inc partnered with FABSCRAP to support the organization in reducing the fashion industry’s impact on the planet. URBN will help FABSCRAP’s expansion into the Mid-Atlantic region by providing a new physical FABSCRAP location in Philadelphia, and a working capital grant.

FABSCRAP is a nonprofit organization that has pioneered a system to reuse and recycle fabric waste.

Q4 2021 financial results 

FY 2021 financial results

Conclusion

The URBN stock went up in the pre-market today after the financial results announcement in which the company reported record sales for the quarter. URBN can continue its positive streak in the coming days as well.

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