Urban Outfitters’ banners post big same-store gains, reports 1Q profit
May 26, 2021
Urban Outfitters, Inc. posted a 51 percent gain in same-store sales — Free People jumped 77 percent, Anthropologie grew 50 percent and Urban Outfitters was up 42 percent. The retailer posted a profit of 54 cents per share, compared to a loss of $1.41 last year. “The first quarter was one for the record books; record sales, a record low markdown rate, and record earnings per share … Strong ‘comps’ were driven by powerful demand and superb execution by all teams. In May, sales trends have accelerated further which we believe bodes well for second-quarter results.”
Recent News
Whole Foods and Amazon Fresh Offer Unlimited Deliveries for $10 a Month
Amazon has unveiled a new program that allows customers of both Whole Foods and Amazon Fresh to receive unlimited grocery delivery for just $10 per month.
GM Reports Surge in Profit on Gas Car Sales
Although General Motors has had trouble selling its electric cars, a recent report indicates that the increase in sales of gas-powered vehicles helped the company generate a profit.
Bubble Tea Bubble Bursts? Popular Brand’s Shares Plunge in IPO
The bubble tea craze has taken over cities of all sizes in the United States, but things aren’t looking good for a popular chain, whose initial public offering (IPO) tanked on the Asian market.
UPMC Cuts 1,000 Jobs Due to Post-Pandemic Challenges
UPMC, the largest employer in Allegheny County, Pennsylvania, is laying off about 1,000 employees. The cuts are a response to challenges in the post-pandemic healthcare market.