Urban Outfitters misses on profit, sales in Q1

Philadelphia – Urban Outfitters Inc. missed Wall Street expectations for net income, sales and same-store sales during the first quarter of fiscal 2015. Net income fell 12% to $32.78 millio,n from $37.48 million the same quarter a year earlier.



Lower margins and higher delivery and fulfillment expense helped drive down net income. Sales reached a record high of $739 million, up 8% from $686.31 million, but still fell short of Wall Street expectations. Same-store sales rose 4%.



Richard A. Hayne, CEO, stayed positive in his remarks.



“I am pleased to announce record first quarter sales and positive Retail segment comparable net sales at each of our brands," said Hayne. "I believe our retail segment comparable net sales growth is being driven by the success of our omnichannel strategy.”