Urban Outfitters Q2 Profit Falls, But Sales Rebound

From Free People, the Urban Outfitters division that performed best

From Free People, the Urban Outfitters division that performed best

Philadelphia—Urban Outfitters Inc. reported Monday a lower second quarter profit as the lifestyle retailer was hit by weak margins that offset sales increases.

The company, which operates Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN, posted earnings per share of 49 cents, down from 51 cents a year ago. The analyst consensus expected 49 cents.

Net sales were up 7% go $811 million from $758 million a year ago and ahead of analysts’ estimate for $807 million in sales. Wholesales sales were up 36%.

Comparable store sales were flat for the quarter. By division, Free People posted a 21% increase and Anthropologie a 6% increase, while Urban Outfitters fell 10%.
Results also were hurt by gross margin that fell to 37.4% from 39.3% last year, due to the under performance at Urban Outfitters and store occupancy deleverage.

Selling and general expenses increased by $19 million, due to marketing and technology expenses.

Urban Outfitters didn’t offer any forecasts, but analysts’ consensus estimates for the third quarter $1.96 a share on revenues of $3.35 billion.


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Jeff Prine

Jeff Prine, Editor at Large, Accessories Magazine
Jeff returns as a regular contributor to Accessories magazine. Initially Jeff worked as senior editor at Accessories more than 20 years ago and his love of the industry has followed him until present. Since his tenure here, Jeff has continued to report jewelry, watch and other luxury goods trends as executive editor at Modern Jeweler magazine, fashion director at Lustre, and as contributor on products and trends for consumer and trade publications and websites. In addition to his editorial experience, Jeff also served as an adjunct instructor for accessories merchandising at Fashion Institute of Technology. jeffp@busjour.com