Reuters: Global Markets: Teen apparel chain Urban Outfitters profit jumps 25 percent

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Teen apparel chain Urban Outfitters profit jumps 25 percent Aug 19th 2013, 20:43 Mon Aug 19, 2013 4:43pm EDT (Reuters) - Teen apparel retailer Urban Outfitters Inc (URBN.O) said fewer discounts helped gross margins in the second quarter and reported a higher-than-expected profit. Urban Outfitters, whose shares were up 6 percent in extended trading on Monday, has been faring better than rivals Abercrombie & Fitch Co (ANF.N) and Aeropostale Inc (ARO.N) due to its attractive pricing and fresher styles. Analysts say the company's trendy and fashionable merchandise has helped it capture market share even in a weak consumer environment where mall traffic remains erratic and unpredictable. Urban Outfitters reported gross margins of 39.3 percent in the quarter ended July, up from 37.6 percent a year earlier. Net income rose to $76.4 million, or 51 cents per share, from $61.3 million, or 42 cents per share, a year earlier. Revenue rose 12 percent to $758.5 million. Analysts on an average were expecting second-quarter earnings of 48 cents per share on revenue of $768.1 million, according to Thomson Reuters I/B/E/S. The Philadelphia-based company's shares were closed at $39.92 on the Nasdaq on Monday.

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