Urban Outfitters Faces Big Losses in the First Quarter
Urban Outfitters (NASDAQ: URBN) reported decreasing sales in its first quarter, but a strong digital program saw gains. As an apparel retailer, Urban Outfitters' net sales decreased 31.9% in the first quarter year over year to $588 million. By segment, there was a 19% decrease at Free People, 24% at Urban Outfitters, and 33% at Anthropologie.