In Monday's trading on NASDAQ, Urban Outfitters exhibited more than a modest show of profits. Shares for the teen retail clothing line rose 7% in post-market trade.
Urban Outfitters, also the owner of other retail brands BHLDN, Anthropologie, Free People and Terrain brands, exhibited a net income of USD 0.51 per share or USD 76.3 million in the second quarter. Revenues for the company increased at 12% to USD 758 million, the major slice of which came from the Anthropologie brand.
Analysts surveyed by Thompson Reuters had earlier said that Urban Outfitters is anticipated to earn USD 0.48 per share of USD 768 million, up 14% year-over-year.
CEO Richard Hayne said in the earnings statement as released, "I am pleased with the strong results we delivered this quarter." Hayne added, "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."
The earnings shown by Urban Outfitters is proof that not all companies in the retail sector are laboring to stay afloat with their earnings this season. Rival companies Abercrombie & Fitch and The Gap was set to release their reports on Thursday this week.
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