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Fiscal Cliffhanger
Whatever your political views may be, it’s hard not to think about the impact of the recent presidential election on the consumer psyche, and ultimately our industry. Whether President Obama or Mitt Romney would have been better for the economy in the long run is an issue I’ll gladly leave to the political experts and historians. But I do think that, in the near term, we are less likely to see the big holiday spending numbers that some analysts were predicting.
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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%.