Urban Outfitters Q3 profits drop 28 percent

Urban Outfitters reported its net profit for Q3 decreased on Tuesday. Revenues surged by 1.4 percent from the same period last year.

For Q3, the company's net profit was 56 million dollars, slipped from 78 million dollars last year. Furthermore, revenues surged to 987 million dollars. The profit margin of the company dropped to 6 percent compared to 8 percent a year ago.

Urban Outfitters (NASDAQ: URBN) is an American clothing company headquartered in Philadelphia, Pennsylvania. The company was founded by Richard Hayne, Scott Belair, and Gabriel Tham-Morrobel in 1970, and was renamed and incorporated in 1976. Urban Outfitters manages five separate brands, including its namesake, Anthropologie, Free People, Terrain, and BHLDN; together, the brands operate several hundred retail locations worldwide.

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