Financial Reports: Tiffany, Urban Outfitters, Hydron

Stamford, CT–The news was bad, good, and mixed for a trio of marketers reporting second-quarter financials. A challenging retail environment got the better of upscale jewelry and gifts marketer Tiffany & Co. (NYSE-TIF). For the three months ended July 31, the New York-based cataloger/retailer had net sales of $371.3 million, a slight dip from $374.4 million for the comparable period of 2000. Net earnings declined 8%, to $36.0 million from $39.2 million last year. Direct marketing sales, which include catalog and the Web, rose 6%, to $34.6 million.

Apparel and home accessories marketer Urban Outfitters (Nasdaq: URBN), which mails the Anthropologie catalog, had much better news to report. The Philadelphia-based company posted an 82% leap in second-quarter net income and a 17% rise in net sales. For the three months ended July 31, the cataloger/retailer reported net income of $3.2 million on sales of $80.4 million. Catalog and Web sales rose 27%, to $4.2 million from $3.3 million last year. Urban’s Website, which launched in May 2000, as credited with increasing customer response to the Anthropologie catalog and Website.

And personal care products marketer/manufacturer Hydron Technologies (OTC Bulletin Board: HTEC) posted a 15% drop in second-quarter net sales, to $517,157 for the three months ended June 30. But Hydron did cut its net loss by more than half, to $133,942 from $278,730 a year ago. Catalog net sales increased 15%, to $332,589 from net catalog sales of $289,612, following an increase in promotions. The Boca Raton, FL-based company also sells its wares via cable-TV networks/online marketers Home Shopping Network and QVC.


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