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Urban Outfitters fiscal Q2 profit falls 13.1% YOY

Urban Outfitters Inc. said its normalized net income for the fiscal second quarter ended July 31 was 48 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS fell 6.1% year over year from 51 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $66.2 million, a decline of 13.1% from $76.3 million in the year-earlier period.

The normalized profit margin dropped to 8.2% from 10.1% in the year-earlier period.

Total revenue increased 7.0% year over year to $811.3 million from $758.5 million, and total operating expenses rose 10.5% from the prior-year period to $706.1 million from $639.2 million.

Reported net income decreased 11.1% on an annual basis to $67.7 million, or 49 cents per share, from $76.2 million, or 51 cents per share.