By  on August 15, 2008

Driven by higher same-store and net sales and reductions in markdowns, Urban Outfitters Inc. reported a 78.8 percent jump in second-quarter profits Thursday, beating Wall Street estimates.

For the quarter ended July 31, the Philadelphia-based company posted net income of $57 million, or 33 cents a diluted share, compared with $31.9 million, or 19 cents, in the year-ago period.

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