Urban Outfitters posts 38 percent rise in Q3 profit

Urban Outfitters, Inc. has announced net income of 77 million dollars and earnings per diluted share of 78 cents for the third quarter, while net loss for the nine months period was 27 million dollars and loss per diluted share was 28 cents. The company said in a statement that net sales for the three months decreased 1.8 percent to 970 million dollars, while comparable retail segment net sales were flat. By brand, comparable retail segment net sales increased 17 percent at Free People and 4 percent at Urban Outfitters and decreased 9 percent at the Anthropologie Group. Wholesale segment net sales decreased 24 percent.