Urban Outfitters Q3 Profits Miss Street Estimates, Sales In Line

Urban Outfitters posted a third quarter profit of $0.35 a share on revenue of $814 billion. Wall Street analysts were looking for earnings of $0.41 on sales of $813 million. Last year, the retailer earned $0.47 per share on $774 million in sales. As for details, comparable retail net sales, which includes Urban’s direct-to-consumer channel, decreased 1%. Comparable retail segment net sales increased 15% at Free People and 2% at the Anthropologie Group, while decreasing 7% at Urban Outfitters. Urban’s wholesale segment net sales rose 26%. TheStreet's Gregg Greenberg has details from New York.