Urban Outfitters posted a third quarter profit of US $ 0.35 a share on revenue of US $ 814 billion while analysts were looking for earnings of US $ 0.41 on sales of US $ 813 million. Comparable retail net sales, which includes Urban’s direct-to-consumer channel, decreased 1 per cent. Comparable retail segment net sales increased 15 per cent at Free People and 2 per cent at the Anthropologie Group, while decreasing 7 per cent at Urban Outfitters. Urban’s wholesale segment net sales rose 26 per cent. “While we are pleased with delivering record third quarter sales fuelled by strong performances at our Anthropologie and Free People brands, I am disappointed by the results at the Urban Outfitters brand. There is much work to be done to improve the merchandise margins and store performance at the Urban brand, but I see positive signs as shown by strong results at the brand’s direct-to-consumer channel, ” said Richard A. Hayne, CEO of the company.
