2 hours, 7 minutes ago (Reuters) - Clothing and home goods retailer Urban Outfitters Inc (URBN.O) posted a 79 percent jump in quarterly profit, beating market estimates, driven by strong same-store sales across all its branded stores and fewer markdowns that boosted gross profit margins.The specialty retailer reported net income of $57.0 million, or 33 cents a share, for the second quarter ended July 31, compared with $31.9 million, or 19 cents a share, a year earlier.
Urban Outfitters, which competes with Aeropostale (ARO.N), American Eagle Outfitters (AEO.N) and Abercrombie & Fitch (ANF.N), said net sales rose 30 percent to $454.3 million.
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