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Urban Outfitters fiscal Q2 profit falls YOY

Urban Outfitters Inc. said its normalized net income for the fiscal second quarter ended July 31 was 50 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS increased 5.2% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $65.1 million, a decrease from $66.2 million in the year-earlier period.

The normalized profit margin dropped to 7.5% from 8.2% in the year-earlier period.

Total revenue rose 6.9% on an annual basis to $867.5 million from $811.3 million, and total operating expenses increased 8.2% year over year to $763.7 million from $706.1 million.

Reported net income came to $67.1 million, or 52 cents per share, compared to $67.7 million, or 49 cents per share, in the year-earlier period.