Wednesday, May 17, 2017

Urban Outfitters Q1 profit falls 60%

Urban Outfitters reported disappointing results for its first quarter, weighed down by heavy promotional activity at its namesake and Anthropologie banners.

Sales for the quarter ended April 30 edged down 0.2% to $761.2 million from $762.6 million last year. Same-store sales declined 3.1%, a bigger drop than expected, despite strong gains in online revenue. By brand, same-store sales rose 1.5% at Free People, but fell 3.1% at Urban Outfitters and 4.4% at Anthropologie Group. . . . more

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