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Loading ...Philadelphia’s upscale specialty retailer continued to defy the consumer downturn, thrilling investors with a 79 percent increase in second-quarter profits. The profit surge came off a 30 percent increase in sales, which reached $454 million, compared with $348 million a year ago.
Customers bought a lot of merchandise at original prices — not on clearance racks — which is the most profitable way a retailer can sell clothes. Internet and catalog sales were up 42 percent, while sales at stores open at least a year were up 13 percent.
The strongest performance came from the company’s namesake Urban Outfitters stores, which saw same-store sales spike 19 percent. The company’s two other apparel store lines did well, too, with comparable sales up 7 percent at Anthropologie and 10 percent at Free People.
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