We’ll see next week how PacSun and Zumiez did when they report third quarter numbers, but Urban Outfitters is showing that all is not dead in the teen clothing sector. They reported “record third-quarter earnings of $59 million, a 31 percent gain.”
The company cited higher profit margins and a tight control of sales-and-administrative expenses. Going into the key holiday-shopping season, the company said it has maintained “rigorous management of inventory and expenses.” In the recent quarter, tighter control of inventory meant fewer items marked down for discount sale.
Yeah, we’re doing well because they think they are geniuses. Maybe.
[Link: BizJournals]
