85 570
Fashion Jobs
LEVI'S
Associate Manager, Retail Stores Communications
Permanent · SAN FRANCISCO
NEW BALANCE
Athlete & Product Services Manager
Permanent · BOSTON
NEW BALANCE
sr. Manager, Portfolio Management | Operations
Permanent · LAWRENCE
THE REALREAL
Field Sales Account Manager (Account Luxury Manager)
Permanent · NEW YORK
TREK
Service Manager
Permanent · CENTERVILLE
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 12 Hrs - Fashion Outlets Niagara Falls - Niagara Falls, NY
Permanent · NIAGARA FALLS
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tejon - Arvin, CA
Permanent · ARVIN
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tanger Outlet Center Midway - Rehoboth Beach, de
Permanent · REHOBOTH BEACH
AVEDA
Keyholder - Aveda - 25 Hrs - Kenwood - Cincinnati, OH
Permanent · CINCINNATI
MACY'S
Asset Protection Detective, FT Myers - Full Time
Permanent · FORT MYERS
MACY'S
Fulfillment Associate, Portland - Full Time (2550)
Permanent · PORTLAND
MACY'S
Asset Protection Detective, Roosevelt - Full Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Flex
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Part Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Detective, Market Place - Full Time
Permanent · CHAMPAIGN
MACY'S
Asset Protection Detective, Barton Creek Square Mall - Part Time
Permanent · AUSTIN
MOVADO GROUP
District Manager
Permanent ·
STAND OUT FOR GOOD
Brand Rep (Sales Associate)
Permanent · EAST RUTHERFORD
UNIVERSITY OF NORTH FLORIDA
Apex Accelerator Coordinator
Permanent · JACKSONVILLE
JCPENNEY
Asset Protection Associate - Patrick Henry Mall
Permanent · NEWPORT NEWS
RALPH LAUREN
Sales Professional Part Time-2
Permanent · OAK BROOK
RALPH LAUREN
Associate Manager
Permanent · JOHNSON CREEK
By
Reuters
Published
Nov 18, 2014
Reading time
2 minutes
Download
Download the article
Print
Text size

Urban Outfitters profit falls as costs rise

By
Reuters
Published
Nov 18, 2014

Apparel retailer Urban Outfitters Inc reported a lower-than-expected quarterly profit, hurt by increased markdowns and expenses related to marketing and technology.

The company's shares fell 4.9 percent in extended trading.


The retailer has been trying to reverse falling sales in Urban Outfitters brand by revamping stores, refining its merchandise assortment to focus on its target audience aged 18-28, and improving marketing.

However, the turnaround is taking longer than expected as fewer customers visit malls and companies compete fiercely for shoppers by offering steep discounts.

Comparable retail sales fell 1 percent in the quarter ended Oct. 31, while comparable retail segment sales at its largest brand Urban Outfitters, fell 7 percent in the quarter.

"I am disappointed by the results at the Urban Outfitters brand," Chief Executive Richard Hayne said. "There is much work to be done to improve the merchandise margins and store performance at the Urban brand."

The company, whose brands include Anthropologie and Free People, said gross margins fell to 34.81 percent of sales in the quarter, as it slashed prices to encourage more sales at its stores.

Selling, general and administrative expenses rose nearly 11 percent in the third quarter, on increased marketing and technology expenses as the company continued to expand its online presence.

The company, which competes with retailers such as Abercrombie & Fitch Co and Aeropostale Inc, gets most of its customers through stores in malls.

Abercrombie also cut its quarterly profit and sales estimates this month, citing lower mall traffic and high promotions.

Urban Outfitters said net income fell to $47.1 million, or 35 cents per share, in the third quarter, from $70.3 million, or 47 cents per share, a year earlier.

Net sales rose 5.2 percent to $814.5 million.

Analysts on average had expected a profit of 41 cents per share on revenue of $812.7 million, according to Thomson Reuters I/B/E/S.

The company's shares closed at $30.83 on Monday on the Nasdaq.

1 USD = 0.638671 GBP

© Thomson Reuters 2024 All rights reserved.