US: Urban Outfitters posts Q3 profit after sales rise
- Q3 profit up 17% to $60m
- Sales rose 14% to $693
- Gross margin rate increased 222 basis points
Teen fashion retailer Urban Outfitters has posted a 17% rise in third-quarter net profit thanks to improved margins and a reduction in markdowns.
Net income reached US$60m over the three months to 31 October compared to $51m last year. Income from operations increased 27.5% to $93.5m.
Net sales rose 14% to $693m, while comparable store sales edged down 1%. Direct-to-consumer sales jumped 36% and wholesale sales grew 7%. Comparable sales at its retail division were up 8% driven by gains within its Free People, Urban Outfitters and Anthropologie brands.
Gross profit rate improved 222 basis points due to a reduction in the number of markdowns.
"Favourable customer response to our product offerings and better marketing resulted in record third quarter sales and significant margin improvement," said CEO Richard Hayne.
"We see this trend continuing into the fourth quarter which bodes well for our holiday season."
Retailer Urban Outfitters to use the new StoreTrac software package from PCSTrac to provide a store-level snapshot of shipments....
This report analyzes the worldwide markets for Bridalwear in US$ Million. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Australia, Latin America, and Rest of ...
Retailer Urban Outfitters more than doubled its fourth quarter net profit, thanks to surges in direct-to-consumer sales and wholesale revenues....
- PSF 2014: No one size fits all in apparel sourcing
- PSF 2014: Shifting focus from cost to consumer
- Garment manufacturers eye Myanmar outsourcing
- Bangladesh industry development moving backwards
- PSF 2014: Ten sustainability takeaways
- Adidas China supplier in discussions over strike
- Gap issues mirror widespread industry challenges
- Bangladesh PM asks clothing buyers to pay more
- Jones CEO to depart as Sycamore splits business
- H&M "pushing the process" on sustainable fashion
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects
- Jeans in Italy