Urban Outfitters Inc. on Monday reported net income of $60 million for the third quarter ended Oct. 31, a 17.6 percent increase from $51 million in the same period of 2011. Net income for the nine months ended Oct. 31 was $155 million, a 6.9 percent jump over $146 million for the prior year’s nine-month period. Earnings per diluted share were 40 cents and $1.06 for the three and nine months, respectively.
The retailer said net sales rose 14 percent to a record $693 million in the third quarter, versus $609.9 million in the year-ago quarter. Comparable retail segment net sales, which include the direct-to-consumer channel, increased by 8 percent for the quarter, while same-store net sales decreased by 1 percent. Comp-store sales at Free People rose 24 percent; Urban Outfitters, 7 percent, and Anthropologie, 6 percent. Direct-to-consumer net sales increased by 36 percent and wholesale segment net sales rose by 7 percent.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"