Q3 Earnings at Urban Outfitters Drive Past Consensus Expectations

Urban Outfitters Inc (NASDAQ: URBN) posted its Q3 net profits at $62.4 million, or $0.36 per share, marginally beating the consensus estimates of $0.35 a share. URBN’s results were driven by an impressive 14% sales growth at the company’s Anthropologie chain.

Urban Outfitters’ gross profit margins for the quarter rose by 65 basis points, driven by expansion in merchandise margins. URBN has been making a focused attempt to sell more higher-margin brands at its Urban Outfitters stores, while trying to limit its costs.