FINANCE

Urban Outfitters Sees High Profit as Stock Price Falls

BY CSA STAFF

Chicago, Urban Outfitters Inc. had a 49% increase in its second-quarter profit. The company made $30.6 million, or 36? per share for the quarter. It said fall fashion sales in July were high. However, Urban Outfitters stock decreased $2.12 or 3.7% this morning. Analysts believe the decrease could be because the company met expectations but did not exceed them.

Sales rose 34% to $253.4 million from a year ago, a record for Urban Outfitters. Last year’s sales were $189.5 million.

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MARKETING/SOCIAL MEDIA

Retailers Cater to College Students

BY CSA STAFF

New York City, The back-to-school season may have a new focus. College students are increasingly interested in decorating their dorm rooms, and they are willing to pay plenty to do it. According to National Retail Federation, college students spent $2.6 billion in dorm room furnishings in 2004. That number does not include the $7.5 billion spent on electronics.

Retailers have responded to this market by offering new dorm-room furnishings, such as more brightly colored backrests and beanbag chairs. Companies are also implementing unique incentives for students. For example, Target Corp. plans to give students free roundtrip bus trips from university campuses and Bed Bath & Beyond Inc. and Linens ’n Things Inc. now have dorm registries on their Web sites.

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News

Tweens Rule

BY CSA STAFF

New York City, Tweens have a big say in family purchasing decisions, according to the new Nickelodeon/Youth Intelligence June 2005 Tween Report. The 9- to 14-year-old age group wields considerable influence on household purchases, the report shows, particularly on technology-related products such as computers.

According to study, tweens average $9.15 per week in allowance or spending money. They rely on their parents to pay for clothing, food, room decor and toiletries, and save their money to buy “non-necessities” in categories of entertainment, technology and fashion.

Girls strongly influence purchasing decisions on buying clothes and CDs, and for which movies to rent and see in the theater, according to the report. Boys exert their influence on parents when it comes to which video games or systems to buy and which television shows to watch.

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