Urban Outfitters had surprisingly strong quarterly profits and sales, as young hipsters snatched up its fashions despite signs of slowing consumer spending.
The Philadelphia-based retailer, which also owns the Anthropologie and Free People chains, said second-quarter net income surged 46 percent to $71.7 million, or 42 cents a share.
Sales jumped 20 percent to $552 million, with sales at retail stores open at least a year up 7 percent.