Net Income Up 82% in 2Q for Urban OutfittersUrban Outfitters Inc. reported an 82 percent increase in net income for the fiscal second quarter, recording $3.2 million compared with $1.7 million during the same quarter in 2000. The quarter ended July 31.
Diluted earnings per share reached $0.18 in the quarter while $0.10 per share was reported last year, representing an 80 percent rise.
Net sales for the quarter totaled $80.4 million, up 20 percent from $66.7 million for the same period in 2000, said Urban Outfitters, Philadelphia.
Direct response sales rose 27 percent as a result of an increase in sales generated by the company's Web site, which launched in May 2000, and increased response to the Anthropologie catalog and Web site.