Urban Outfitters’ Same-Store Sales Slump

PHILADELPHIA – The Urban Outfitters chain is reporting same-store sales down three percent, even as its parent company, Urban Outfitters, Inc. enjoys increases in its Anthropologie and Free People chains. New and existing store sales combined rose by 22 percent to $348.5 million during the quarter. The company’s full second quarter earnings will be announced tomorrow.

“We understand the issues confronting Urban, NA and are confident that the recent changes in merchandise strategy and personnel will have a positive impact on their future sales productivity,” said chairman and president Richard Haynes in a statement.

Urban Outfitters, Inc. opened 11 new stores in the first two quarters of the fiscal year. There are 27 more openings planned.