Urban Outfitters Q1 net income, revenue rise
Philadelphia Urban Outfitters said Thursday that its first-quarter net income jumped 72% partly on sales strength across its brands and fewer markdowns.
The retailer, whose brands include Anthropologie, Free People and Terrain as well its namesake stores, reported a net income of $53 million for the period ended April 30, compared with $30.8 million a year ago.
Revenue increased 25% to $480 million from $384.8 million.
Same-store sales rose 11%.
Retail sales for Anthropologie climbed 22%, Free People increased 25%, Terrain climbed 22% and Urban Outfitters grew 9%.
Direct-to-consumer sales surged 42% and wholesale segment sales rose 4% for the quarter.