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Urban Outfitters Q2 net sales up 7 percent

By Prachi Singh

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Urban Outfitters announced net income of 67 million dollars and 100 million dollars for the three and six months ended July 31, 2015, respectively. Earnings per diluted share were 0.52 dollar and 0.76 dollar for the three and six months, respectively.

Total company net sales increased 7 percent over the same quarter last year to a 867 million dollars. Comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 4 percent. Comparable retail segment net sales increased 14 percent at Free People, 4 percent at Urban Outfitters and 2 percent at the Anthropologie Group. Wholesale segment net sales rose 21 percent.

“We are pleased to announce record sales for the second quarter driven by positive retail segment comp growth at each brand,” said Richard A. Hayne, Chief Executive Officer.

For the three and six months ended July 31, 2015, the gross profit rate declined by 71 basis points and 104 basis points versus the prior year's comparable periods, respectively. During the six months, the company opened a total of 13 new stores including: seven Free People stores, four Anthropologie Group stores and two Urban Outfitters stores. The company closed three stores during the six months ended July 31, 2015, two Urban Outfitters stores and one Free People store. During the six months, the company opened a total of 13 new stores including: seven Free People stores, four Anthropologie Group stores and two Urban Outfitters stores. The company closed three stores during the period, two Urban Outfitters stores and one Free People store.

Urban Outfitters