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Urban Outfitters Q3 sales below plan
Shop-eat-surf file photo.
By TIFFANY MONTGOMERY
November 08, 2011 07:00 AM
November 08, 2011 07:00 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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