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MasterCard Advisors: Hurricane Sandy takes a bite out of early November sales
Purchase, N.Y. -- Spending in most of the key holiday categories, for the first two weeks of the retail month of November was down on a year-over-year basis, according to a SpendingPulse report released by MasterCard Advisors, the professional services arm of MasterCard. Apparel and luxury (excluding jewelry) were particularly hard hit, both showing year-over-year declines in the high 7% range.
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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%.