American fashion retailer Urban Outfitters is currently outperforming its close competitors, Abercrombie & Fitch and Aeropostale. Its second quarter net profit was higher than expected.
The net profit, 76.4 million dollars (57 million euro), represents a healthy increase compared to the same period last year, 61.3 million dollars (46 million euro). Discounting fewer products has resulted in a higher profit than expected, as more products were sold at full price.
Quarterly revenue rose twelve percent to 758.5 million dollars (567 million euro), assisted by the self-proclaimed fashionable and trendy collection.
First Dutch store this year
A Facebook page was created in order to entice Dutch customers towards the brand, ahead of its first store in Amsterdam later this year. This may turn out to be bad news for the store in Antwerp, currently the closest Urban Outfitters store for most Dutch customers.
Urban Outfitters was founded in 1970 and currently has more than 400 retail outlets worldwide.