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Urban Outfitters Q3 profit misses; to open 49 stores next year
Philadelphia -- Urban Outfitters reported Monday that net income in the third quarter rose 17.4% to $59.5 million, compared with $50.7 million in the prior-year period but missing Wall Street estimates.
Sales rose 13.6% to $692.9 million, narrowly missing analysts’ expected $692.5 million in revenue. Same-store sales dipped 1%.
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Survey: Almost half of Cyber Monday shoppers to increase online spend
Whiting, Ind. -- Survey results released Tuesday by CouponCabin.com revealed that that 47% of Cyber Monday shoppers will spend more money online that day than they will in-store the during the rest of the holiday season. The holiday has gone mobile as well. More than one-quarter (29%) of smartphone and tablet owners plan to shop online on Cyber Monday on their devices.