Urban Outfitters (URBN), Casey’s General (CASY) Crushed on Earnings Shortfalls

Both Urban Outfitters (NASDAQ:URBN) and Casey’s General Stores (NASDAQ:CASY) reported disappointing earnings and were punished in after hours trading.

Urban Outfitters reported fourth-quarter net earnings of $75.2 million, or 45 cents a share, down from $77.7 million, or 45 cents, in the same quarter last year. Analysts had been looking for 52 cents a share on $674.8 million in revenue, according to Factset.

Casey’s General Stores Inc. reported fiscal third-quarter net income dropping to $12.9 million, or 34 cents a share, from $17.2 million, or 34 cents a share in the same quarter last year. Excluding one-time items, earnings would have been 37 cents a share. Revenue jumped to $1.37 billion from $1.11 billion. Analysts had estimated earnings of 49 cents a share on revenue of $1.33 billion.

Casey’s said in a statement that the quarterly earnings “were impacted by compressed margins due to a competitive cigarette environment, rising commodity costs and increased operating expenses related to store openings,”

Urban Outfitters was trading after hours at $33.45, plunging $4.54, or 11.95 percent. Casey’s General Stores was trading after hours at $38.10, falling $2.45, or 6.04 percent.