Urban Outfitters Profit Rises by 72 Percent

May 13, 2010 Updated: May 14, 2010

Apparel retailer Urban Outfitters Inc. said on Thursday that its first-quarter net profit jumped 72 percent, to 31 cents per share ($53 million), compared to the same quarter a year ago. The results beat analysts’ consensus expectations polled by Thomson Reuters.

The company said that sales were especially strong online as well as at its Anthropologie stores. The company also operates the Free People brand and its namesake stores globally.

Same-store topline sales increased 11 percent in stores open for more than one year.