Profit Up 45 Percent at Urban Outfitters
Urban Outfitters' profits soared 45 percent in its fourth quarter, the company said yesterday.The youth-oriented specialty clothing and accessories retailer reported net income of $8.4 million for Q4, which ended Jan. 31, versus $5.8 million a year ago. Sales were up 13 percent to $117.6 million from $103.9 million. Direct-to-consumer sales increased 18 percent to $9.37 million for the quarter.
For the year, Urban Outfitters' net income skyrocketed 83 percent to $27.4 million compared to $15 million last year. DTC sales increased 28 percent to $31.75 million for the year.
The company has 53 Urban Outfitters stores and 39 Anthropologie stores.
