Urban Outfitters warns on Q3 earnings
Philadelphia –- Urban Outfitters Inc. is warning that continued negative same-store sales in the third quarter of fiscal 2014 may have an impact on quarterly earnings. The specialty apparel chain said declining same-store sales could deleverage gross profit margin for the third quarter at a rate greater than during the first half of the year, leading to dampened profits.
Urban Outfitters first reported declining same-store sales and profit margin in Aug. 2014. Earnings declined during the first two quarters of the year. The company also recently received negative publicity for selling a Kent State University sweatshirt with what appeared to be bloodstains. Four antiwar demonstrators were killed by National Guardsmen during a protest at Kent State in 1970.