Urban Outfitters Inc. saw a double-digit percent increase in both third-quarter net income and sales.
For the three months ended Oct. 31, net income rose 18 percent to $70.3 million, or 47 cents a diluted share, from $59.5 million, or 40 cents, a year ago. Net sales were up 11.7 percent to $774 million from $692.9 million, which includes a 20.5 percent gain in wholesale net sales to $50 million. By retail segment, sales at Urban Outfitters rose 3 percent to $341.9 million, Anthropologie was up 16.2 percent to $310.1 million and Free People gained 29.1 percent to $113 million. The company said comparable-store sales, which include direct-to-consumer, rose 7 percent. By business segment, comps rose 30 percent at Free People and were up 13 percent at Anthropologie, but down 1 percent at Urban Outfitters.
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