Urban Outfitters Inc., the Philadelphia retailer, said profit for the quarter ending Oct. 31 slid to $47.1 million, or 35 cents per share, from $70.3 million, or 48 cents per share for the same quarter a year ago, even as sales rose to $814.5 million, compared with $774.0 million in the prior period.
CEO Richard A. Hayne, in a statement, expressed disappointment in the performance for the company's Urban Outfitters brand, where sales at stores open at least a year fell 7 percent. Expenses also rose, the company said. Shares fell after hours, following the company's earnings announcement. Urban Outfitters other store brands are Anthropologie, Bhldn, Free People, and Terrain.
- Reid Kanaley