United States Of America : Urban Outfitters posts record Q2 FY'14 sales & net income

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Urban Outfitters posts record Q2 FY'14 sales & net income

20
Aug '13

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced record second quarter net income of $76 million for the three months ended July 31, 2013 and net income of $123 million for the six months ended July 31, 2013. Earnings per diluted share were $0.51 and $0.83 for the three and six months ended July 31, 2013, respectively.

Total Company net sales for the second quarter of fiscal 2014 increased to a record $759 million or 12% over the same quarter last year. Comparable Retail segment net sales, which include our comparable 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, Chief Executive Officer. "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," finished Mr. Hayne.

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