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Urban Outfitters profit surges 25 percent

Urban Outfitters reported record second-quarter net income of $76 million.
Mario Anzuoni/Reuters
Urban Outfitters reported record second-quarter net income of $76 million.
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Urban Outfitters Inc.’s quarterly profit jumped 25 percent as sales rose across nearly all its brands. Margins also expanded thanks to fewer merchandise markdowns. Profit growth exceeded Wall Street’s expectations. The Philadelphia-based lifestyle specialty company operates under the Urban Outfitters, Anthropologie, Free People, Terrain, and BHLDN brands. The company also operates a wholesale segment under the Free People brand.