Q1 Income, Direct Sales Rise at Urban Outfitters
Net sales in the quarter were $107 million, up 14 percent from the year-ago quarter. Of the $12.9 million uptick, $9.1 million came from sales at non-comparable and new stores. Comparable-store sales increased $1.5 million, or 2 percent.
Direct-to-consumer sales were $9.53 million, up from $7.08 million last year.
Dell Computer, Round Rock, TX, posted its best fiscal first-quarter operating results as net earnings totaled $598 million, up from $457 million for the same period last year. Revenue totaled $9.5 billion, up 18 percent from $8.1 billion. First-quarter operating profit as a percent of revenue was 8.5 percent, its highest in 2.5 years, while operating expenses were a record-low 9.8 percent of revenue, down from 9.9 percent last year.