USA: Urban Outfitters' Q2 Earnings Up 49%
Specialty retailer and wholesaler Urban Outfitters Inc has reported a 49 per cent hike in second-quarter earnings after sales increased in both its direct-to-consumer and wholesale divisions.
Second-quarter net earnings totalled $30.6 million on a net sales rise of 34 per cent to $253.4m, with same-store sales rising 10 per cent, direct-to-consumer sales growing 54 per cent, and wholesale sales jumping 84 per cent.
Richard Hayne, chairman and president, said: "July 'comps' were the best of the quarter due to strong customer response to our fall fashion assortments".
Urban Outfitters Inc is an innovative specialty retailer and wholesaler which offers a variety of lifestyle merchandise to highly defined customer niches through 82 Urban Outfitters stores in the US, Canada, and Europe.
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