March 10 Teen apparel retailer Urban Outfitters
Inc reported lower-than-expected quarterly sales,
citing severe winter weather in the United States, and said it
was "very cautious" on its current-quarter performance.
Shares of the company, known for its Anthropologie, Free
People and Urban Outfitters brands, fell 3 percent in extended
The company's overall same-store sales, which include online
sales, rose 1 percent in the fourth quarter ended Jan. 31.
However, comparable sales in the Urban Outfitters chain fell
9 percent as its merchandise failed to impress shoppers and
severe winter weather dented traffic to its stores.
The brand contributed 43 percent to the company's total
sales in the quarter.
Urban Outfitters' total sales rose 6 percent to $906
million, but came below the average analyst estimate of $925.9
million, according to Thomson Reuters I/B/E/S.
"I believe that current quarter sales at the Urban
(Outfitters) brand will remain well below those achieved in the
first quarter last year and margins will likely be under
considerable pressure," Chief Executive Richard Hayne said on a
conference call with analysts.
The company's net income rose 7.4 percent to $88.7 million,
or 59 cents per share, from $82.5 million, or 56 cents per
share, a year earlier.
Analysts on average had expected 54 cents per share.
Urban Outfitters' shares were down at $36.75 in trading
after the bell. The stock closed at $37.51 on the Nasdaq on