Rough Quarter for Urban Outfitters
The Urban Outfitters chain reported a 5% drop in Q2 comparable sales (stores and online), parent company Urban Outfitters Inc. reported this afternoon.
Comparable sales at sister brand Anthropologie fell 3%, while the Free People brand was the star of the quarter, with comparable sales increasing 6%.
Wholesale sales for the company overall fell 8%.
Higher markdowns at Urban Outfitters and Anthropologie, particularly in women’s apparel, hurt margins.
Store traffic was weak during the quarter, while digital sales were strong.
We’ll have more details about the company’s Q2 challenges in a future story.