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