Urban Outfitters Sees High Profit as Stock Price Falls
Chicago, Urban Outfitters Inc. had a 49% increase in its second-quarter profit. The company made $30.6 million, or 36? per share for the quarter. It said fall fashion sales in July were high. However, Urban Outfitters stock decreased $2.12 or 3.7% this morning. Analysts believe the decrease could be because the company met expectations but did not exceed them.
Sales rose 34% to $253.4 million from a year ago, a record for Urban Outfitters. Last year’s sales were $189.5 million.