Urban Outfitters recently reported solid growth in its revenues for the second quarter of fiscal 2016, backed by continued strength in Free People and consistent recovery of its namesake brand. However, the retailer?s shares fell marginally, as its gross margins and net income declined slightly and it warned investors of slower-than-expected comparable sales growth in the third quarter. Due to traffic-driving promotional activities, a strategy that U.S. apparel retailers are employing invariably, Urban Outfitters? gross margins shrunk 71 basis points.
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