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Urban Outfitters quarterly profits jump

US fashion group Urban Outfitters has announced $41m (£30.5m) in net profit for the three months to 30 April, up from $11.9m (£8.8m) in the same period in 2017.

The group owns Anthropologie, BHLDN, Free People and Terrain as well as Urban Outfitters. Net sales for the three months increased 12.4% to $856m (£638m) compared with the same period last year.

Revenues at Urban Outfitters brand rose 8% to $322m (£240m), up from $284m (£211m) the previous year. Revenues at Anthropologie rose 10% to $347m (£259m) from $311m (£232m) in 2017. 

Revenues at Free People rose to $181m (£135m) from $159m (£118m).

During the period, the Urban Outfitters worldwide portfolio comprised 246 Urban Outfitters stores in the US, Canada, and Europe; 226 Anthropologie Group stores in the US, Canada and Europe; and 134 Free People stores in the United States and Canada.

Globally during the three months to 30 April, the group opened a four new locations – two Free People stores and two Urban Outfitters stores – and closed one Urban Outfitters. 

 

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