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Urban Outfitters Q3 sales below plan

Shop-eat-surf file photo.
Shop-eat-surf file photo.
By Tiffany Montgomery
November 08, 2011 7:00 AM

Urban Outfitters, a top retail performer during the recession, announced lower than expected sales for the third quarter on Monday.

 

The company said comparable retail sales, which include direct sales, declined 3%.

 

Comparable store sales declined 7% companywide.

 

Urban comps were flat.

 

Anthropologie comps fell 7%.

 

Free People comps rose 14%.

 

Comparable sales in the company’s direct channels were more encouraging, rising 15%. Wholesale sales increased 13%.

 

Urban’s stock was down 4% to $26 in trading Tuesday morning.

 

The company will report third quarter earnings on Nov. 14.

 


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