Urban Outfitters Q3 profit up 5%, helped by Anthropologie results

Philadelphia Urban Outfitters said Thursday that profit rose 5%, as higher sales at its Anthropologie chain helped offset weaker results at its Urban Outfitters and Free People stores.

Profit for the three months ended Oct. 31 totaled $62.4 million, compared with $59.3 million a year ago.

Revenue rose 6% to $505.9 million from $478 million last year.

Analysts predicted revenue of $499.4 million.

Same-store sales fell 2%, including a 3% rise at Anthropologie, a 13% decline at Free People and a 5% decline at Urban Outfitters.

Direct-to-consumer sales rose 21%. Wholesale sales fell 10%.

During the nine months ended Oct. 31, the company opened 25 new stores including nine Urban Outfitters stores, 12 Anthropologie stores, and four Free People stores.

The company said it expects to open 32 to 34 new stores during the full fiscal year.