Record third-quarter earnings at Urban Outfitters
Lifted by strong sales of Anthropologie and Free People merchandise, Urban Outfitters Inc., on Monday reported record quarterly sales of $774 million and $70 million in profit for the period ended October 31.
The Philadelphia-based retailer's 12 percent jump in sales over the same period a year earlier was fueled by a 30 percent increase in comparable sales at Free People and 13 percent at Anthropologie, while the Urban Outfitters brand suffered a 1 percent decline. Because the company combines retail sales with online and catalog sales at each brand, it is impossible to know how much of the increases were driven by purchases made in stores or through direct-to-consumer channels.
Earnings were 47 cents per diluted share compared to 40 cents for the same three-month period a year earlier.
- Maria Panaritis