Urban Outfitters Q1 profits rise 247.1 percent

American clothing Urban Outfitters said on Tuesday its Q1 net profit for 2018 increased. Revenues increased by 12.5 percent from the same period last year.

The company’s net profit for Q1 2018 was 41.3 million US dollars, up from 11.9 million US dollars a year earlier. Revenues rose to 856 million US dollars. The profit margin of the company increased to 4.8 percent compared to 1.6 percent a year ago.

Urban Outfitters Inc was founded in 1970 by Richard Hayne, Scott Belair, Gabriel Tham-Morrobel and is based in Philadelphia, PA, United States. The American multinational clothing corporation retails lifestyle products under namesake label Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN.

Offering clothing, accessories, footwear, the United States-listed company has 9660 employees worldwide and operates about 612 own stores.

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