Urban Outfitters profit dips in Q4

Philadelphia -- Urban Outfitters reported Monday that net income for the quarter ended Jan. 31 dipped slightly to $75 million, compared with $77 million in the year-ago period.



For the full year, profit rose to $273 million from $220 million a year earlier.



Fourth-quarter net sales rose 14% to $668 million. Same-store sales for the quarter increased 4%. By brand, same-store sales rose 1% at Anthropologie, 28% at Free People and 5% for Urban Outfitters.



During the year ended January 31, the company opened a total of 46 new stores including: 21 Urban Outfitters stores, 16 Anthropologie stores and nine Free People stores.