Urban Outfitters posts Q3 FY21 sales of $970 mn

Fashion

Urban Outfitters posts Q3 FY21 sales of $970 mn

02 Dec `20

1 min read

Urban Outfitters (URBN), a US-based lifestyle products and services company, reported 1.8 per cent sales decline to $969.6 million in its third quarter (Q3) FY21 ended on October 31, 2020 compared to sales of $987.4 million in the same period for previous fiscal. However, company’s net income during Q3 FY21 jumped to $76.7 million (Q3 FY20: $55.6 million).

Urban Outfitters (URBN), a US-based lifestyle products and services company, reported 1.8 per cent sales decline to $969.6 million in its third quarter (Q3) FY21 ended on October 31, 2020 compared to sales of $987.4 million in the same period for previous fiscal. However, company`s net income during Q3 FY21 jumped to $76.7 million (Q3 FY20: $55.6 million).#

“I am pleased to announce URBN delivered record Q3 earnings per share in spite of an incredibly difficult operating environment,” Richard A Hayne, chief executive officer at URBN, said in a press release. “Our 38 per cent increase in net profits was driven by strong product assortments combined with tight control of inventory and expenses.”

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