Urban Outfitters’ H1 2012 net income is 95 million dollars

Urban Outfitters announced a net income of 61 million dollars for the second quarter of 2012 and 95 million dollars for the first half of 2012. Earnings per diluted share were 0.42 dollars in the second quarter of 2012 and 0.65 dollars in the first half of 2012.

Total company net sales rose by 11 percent over the same quarter last year to 676 million dollars. Comparable retail segment net sales, which include the comparable direct-to-consumer channel, increased 4 percent for the quarter while comparable store net sales decreased 1 percent.

Comparable retail segment net sales at Free People and Urban Outfitters increased 12 percent and 6 percent respectively while comparable retail segment net sales at Anthropologie were flat for the quarter. Direct-to-Consumer net sales increased 22 percent and wholesale segment net sales rose 17 percent for the quarter.

"I am excited and gratified that our team produced record second quarter sales and profits while reducing 'comp' store inventories," said Chief Executive Officer, Richard A. Hayne. "As we head into the second half of the year we plan for gradual year over year improvement in our business along with further tightening of our store inventories."

For the second quarter the gross profit rate declined 30 basis points versus the prior year's comparable period. For the first half of 2012, the gross profit rate declined by 76 basis points versus the prior year's comparable period.

Based in Philadelphia, Urban Outfitters is a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands. As of July 31, 2012, Urban Outfitters has 207 Urban Outfitters stores in the United States, Canada, and Europe; 173 Anthropologie stores in the United States, Canada and Europe; 72 Free People stores; two BHLDN stores; and two Terrain centers.