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Urban Outfitters delivers ‘strong’ Q2 results

PHILADELPHIA — A favorable customer response to product offerings at Urban Outfitters contributed to the retailer’s net income of $76 million for the three months ended July 31.

Total company net sales for the second quarter increased 12% to a record $759 million. Same-store sales, including the company’s direct-to-consumer channel, increased 9%.

Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.

"I am pleased with the strong results we delivered this quarter," said Richard A. Hayne, CEO. "They were driven by a favorable customer response to our product offerings, improved merchandise margins, the opening of additional stores, and better creative and marketing initiatives in our direct-to-consumer channel.”

During the six months ended July 31, 2013, the company opened a total of 17 stores including: six Free People stores, eight Urban Outfitters stores and three Anthropologie stores.

Urban reported net income of $123 million for the six months ended July 31.

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