Urban Outfitters Q3 profit up 17%
Philadelphia -- Urban Outfitters recorded earnings of $73.1 million for the quarter ended Oct. 31, a 17% hike over the $62.4 million recorded in the prior year period, helped by higher sales and improved growth in comparable store net sales. Quarterly earnings were ahead of the analysts' expectations, while sales came in short of the consensus.
Revenue rose 13.4% to $573.6 million, missing Wall Street estimates of $580 million.
Total same-store sales, which include direct-to-consumer channels, improved 6% for the quarter. Comparable sales in the store segment were up 1%.
Urban Outfitters operates 166 Urban Outfitters stores in the United States, Canada and Europe, catalogs and two websites; 150 Anthropologie stores in the United States, Canada and Europe, catalogs and two websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 38 Free People stores, catalogs and website; Leifsdottir wholesale, which sells its product to approximately 65 specialty stores and select department stores, and a Leifsdottir website and one Terrain garden center and website.