Clearance sales helped boost Urban Outfitters to the highest quarterly sales in its history, the clothing retailer reported Monday.
But markdowns also led to lower profits at the Philly-based company, which has had a store in downtown Red Bank since November, 2009. Results are not disclosed by location.
“Struggles in meeting the fashion demands of women has led to depressed earnings over the past several quarters,” theStreet.com reports.
Urban said in a press release that net sales were up 10 percent in the second quarter from the year-prior period, to $609 million. Net income fell to $56.7 million, from $71.7 million.