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Urban Outfitter’s Q2 profit surges 25%
PHILADELPHIA — Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.
Total company net sales for the second quarter increased 12% to a record $759 million. Same—store sales, including the company’s direct-to-consumer channel, increased 9%.
Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.
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Saks Q2 misses as loss widens
New York -- Saks Inc. on Monday reported a worse than expected second-quarter loss amid disappointing sales of shoes and handbags.
Saks, which last month reached a deal to be acquired by Canada's Hudson's Bay Co., had a net loss of $19.6 million for the quarter ended Aug. 3, compared with a net loss of $12.3 million a year earlier.
Overall sales rose 0.5% to $707.8 million for the quarter. Same-store sales rose 1.5%, below the 4.5% increase analysts had expected.