Urban Outfitters posted sales and earnings for its third quarter that failed to meet analysts expectation amid a traffic slowdown and increased promotions at its Anthropologie and Free People stores.
Urban Outfitters earned $47 million, or 40 cents a share, in the third quarter ended Oct. 31, compared with $52 million, or 42 cents a share, in the year-ago period.
Sales rose 5% to $862 million, compared with $825 million a year ago. Same-store sales, which include online, rose 1%.
