Urban Outfitters’ 4Q Disappoints

Urban Outfitters Inc. (Philadelphia) reports its fourth-quarter profits fell shy of analysts’ estimates, as same-store sales fell. For the three months ended Jan. 31, the company’s net income declined 3.1 percent to $75.2 million. Net sales rose 13.6 percent to $668.4 million while same-store sales, not including direct-to-consumer channels, dropped 2 percent. Including direct channels, comparable-store sales were up 2 percent.

By brand, net sales at Urban Outfitters were up 13.3 percent; Anthropologie’s grew 10 percent and Free People was up 35.2 percent.

The company recently launched its new wedding concept, Bhldn, with the first store expected to open in Houston this fall.