Urban Outfitters Inc. has now seen its net income fall for each of the last four quarters. The company, which reported third-quarter earnings after the close of the market on Monday, said profits declined 31 percent amid deteriorating margins.
Net sales in the third quarter ended Oct. 31 increased 6 percent to $610 million, compared with $573.5 million in last year’s third quarter. The retailer reported net income for the quarter of $50.7 million, or 33 cents a share, compared with $73.1 million, or 43 cents per share, for the 2010 third quarter, beating Wall Street estimates of 32 cents a share. Net income for the nine months ended Oct. 31 was $146 million, or 91 cents a share. The results were largely driven by a 31 percent increase in Web traffic.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)