Profit down for Urban Outfitters

Posted: May 22, 2012

Profitability declined as sales increased 9 percent at Urban Outfitters Inc., during the three months ended April 30, the Philadelphia-based retailer reported in releasing quarterly earnings Monday. The company said it collected net profit of $34 million on $569 million in sales, a decline in margin from the same period a year earlier, when the specialty apparel retailer posted earnings of $39 million on $524 million in sales. Net earnings per share for both quarters remained at 23 cents.

Comparable-store sales, measuring revenue at stores opened for at least a year, declined 1 percent. The company said profit was hurt partly by "slightly higher markdowns on a few women's apparel categories across all brands." The retailer operates stores under the names Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN.

– Maria Panaritis

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