Urban Outfitter’s Q2 profit surges 25%
PHILADELPHIA — Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.
Total company net sales for the second quarter increased 12% to a record $759 million. Same—store sales, including the company’s direct-to-consumer channel, increased 9%.
Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.
"I am pleased with the strong results we delivered this quarter," said Richard A. Hayne, CEO. "They were driven by a favorable customer response to our product offerings, improved merchandise margins, the opening of additional stores, and better creative and marketing initiatives in our direct-to-consumer channel.”
During the six months ended July 31, 2013, the company opened a total of 17 stores including: six Free People stores, eight Urban Outfitters stores and three Anthropologie stores.
Urban reported net income of $123 million for the six months ended July 31, 2013.