Apparel retailer Urban Outfitters Inc. said Thursday that its second-quarter profit fell 14 percent, stung by same-store sales declines at its Anthropologie, Free People and namesake stores and higher expenses.
Net income slipped to $49 million, or 29 cents per share, from $57 million, or 33 cents per share, during the same period a year ago.
Analysts polled by Thomson Reuters expected earnings of 26 cents per share. Analysts' estimates normally exclude one-time items.
Selling, general and administrative expenses climbed to $108.7 million from $103.6 million.
For the period ended July 31, sales edged up 1 percent to $458.6 million from …
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