28 per cent drop in Q3 profits!
That’s a big drop for the American apparel firm Urban Outfitters. The company’s net profit has slumped from US $ 78 million last year to US $ 56 million this year.
The profit margin of Urban Outfitters fell notably from 8 per cent a year back to 6 per cent. The quarter, indeed, seems to have come with some worries for the lifestyle retailer.
The revenues increased to US $ 987 million – a 1.4 per cent rise from what it was in the previous year.
The net profit for the 9 months, however, was US $ 149 million.
Brandwise, the comparable retail segment net sales rose by 9 per cent at Free People and 4 per cent at the Anthropologie Group. The sales remained flat at Urban Outfitters.