Urban Outfitters 4Q Lags Street View

Retail Reuters

Urban Outfitters Inc (URBN) posted a lower-than-expected quarterly profit, as the clothing retailer offered steep discounts to drive sales, hurting margins.

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The company, which operates Anthropologie, Free People, BHLDN and Terrain stores apart from its namesake chain, saw a fourth-quarter profit of $39.3 million, or 27 cents a share, compared with $75.2 million, or 45 cents a share, last year.

Sales rose 9 percent to $730.6 million.

Analysts, on average, had expected earnings of 29 cents a share, on revenue of $740.0 million, according to Thomson Reuters I/B/E/S.

Urban Outfitters shares closed at $29.51 on Monday on the Nasdaq.

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