Urban Outfitters Inc. on Monday reported that net income for the third quarter rose 17.2 percent to $73.1 million, or 43 cents a diluted share, from $62.4 million, or 36 cents, in the comparable period in 2009. EPS exceeded analysts’ estimates by 1 cent.
In the three months ended Oct. 31, net sales grew 13.4 percent to $573.6 million from $505.9 million, with direct-to-consumer volume climbing 32.5 percent to $105.7 million and sales in stores rising 9.6 percent to $433.4 million. Same-store sales grew 1 percent, while comparable revenues, including direct-to-consumer channels, were up 6 percent. Comps at Urban Outfitters and Anthropologie both grew 5 percent, while Free People’s same-store sales jumped 29 percent. Gross margin descended 39 basis points to 41.4 percent of sales from 41.5 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)