Record turnover for Urban Outfitters

Record turnover for Urban Outfitters

Clothing chain Urban Outfitters was not able to beat analysts' expectations in the second quarter, but it did rake in the highest every turnover in the company's history.

Profit exceeds expectations

Urban Outfitters' second quarter turnover reached 867.5 million dollars (780 million euro), but analysts had expected even more at 882 million dollars (800 million euro), despite 867.5 million dollars being a company record. Like-for-like turnover grew 4 %, which is also below the anticipated 4.3 % like-for-like turnover growth.

 

The Urban Outfitters store chain's turnover grew 4 % on a like-for-like basis, while Anthropologie managed a 2 % increase. Free People experienced the largest growth, as like-for-like turnover grew 14 %, exceeding analysts' expectations at 13.4 %.

 

The company's second quarter net profit reached 66.8 million (60.4 million euro), below last year's numbers at 67.5 million dollars (61 million euro), but still above what analysts had expected.

 

Urban Outfitters was in the middle of another media storm last week when it placed a jewelry holder shaped like the Hindu god Lakshmi on its website. After a huge row, it quickly pulled the product. It is not the first time Urban Outfitters clashed with certain ethnic groups, with previous disputes revolving around the Star of David and swastikas. 

Questions or comments? Please feel free to contact the editors


Will Kraft Heinz acquire Danone?

22/08/2017

There are rumours that Kraft Heinz will target Danone after it failed to acquire Unilever. However, analysts feel the water between both companies is still fairly deep.

German Rewe targets Luxembourg

22/08/2017

German supermarket chain Rewe has turned its attention to the Grand Duchy of Luxembourg. It recently opened a store in Echternach and will soon open several others, which spells bad news for other chains, like Ahold Delhaize.

Aldi sells games in Germany

21/08/2017

Aldi (Nord and Süd together) will start selling online video games in Germany, starting today. The day has been meticulously chosen, because Europe’s largest gaming convention opens its doors in Cologne on the 22nd of August.

Walmart files patent for flying store

21/08/2017

American department store chain Walmart has filed for a very peculiar patent, regarding a flying store. The store should be able to bring orders to the customer’s door step thanks to drones.

Lotus Bakeries grows despite weaker British pound

21/08/2017

Despite a weaker British pound, cookie manufacturer Lotus Bakeries managed a 1 % turnover increase in the first half of 2017. A record growth in 2016 did provide an enormous comparison, but it succeeded.

Fipronil crisis forces waffles out of French supermarkets

21/08/2017

Several waffles have been taken off of French shelves because they contain eggs that may have been contaminated with fipronil. A range of Lotus frangipane waffles is on the list.

Back to top