Reuters: Hot Stocks: UPDATE 1-Teen apparel chain Urban Outfitters profit jumps 25 pct

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UPDATE 1-Teen apparel chain Urban Outfitters profit jumps 25 pct Aug 19th 2013, 20:41 Mon Aug 19, 2013 4:41pm EDT * Second-qtr earnings/share $0.51 vs est $0.48 * Second-qtr sales rise 12 pct to $758.5 mln * Shares up 6 pct after market (Adds margin details, background) Aug 19 (Reuters) - Teen apparel retailer Urban Outfitters Inc said fewer discounts helped gross margins in the second quarter and reported a higher-than-expected profit. Urban Outfitters, whose shares were up 6 percent in extended trading on Monday, has been faring better than rivals Abercrombie & Fitch Co and Aeropostale Inc due to its attractive pricing and fresher styles. Analysts say the company's trendy and fashionable merchandise has helped it capture market share even in a weak consumer environment where mall traffic remains erratic and unpredictable. Urban Outfitters reported gross margins of 39.3 percent in the quarter ended July, up from 37.6 percent a year earlier. Net income rose to $76.4 million, or 51 cents per share, from $61.3 million, or 42 cents per share, a year earlier. Revenue rose 12 percent to $758.5 million. Analysts on an average were expecting second-quarter earnings of 48 cents per share on revenue of $768.1 million, according to Thomson Reuters I/B/E/S. The Philadelphia-based company's shares were closed at $39.92 on the Nasdaq on Monday. (Reporting by Aditi Shrivastava in Bangalore; Editing by Joyjeet Das) Link this Share this Digg this Email Reprints

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