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The namesake brand of Urban Outfitters continues to struggle, based on results that the Philadelphia-based specialty retailer released last week.
Following a 5.2 percent tumble in Q1, Urban Outfitters’ sales fell another 2.4 percent for Q2. The company’s better performing Anthropologie and Free People brands took up the slack—Q2 revenues overall rose by 7 percent—but the Urban Outfitters brand continues to disappoint. Comp sales fell by 10 percent.
In a statement, the company blamed a 194 basis point decrease in its gross profit rate on “underperformance at the Urban Outfitters brand.”
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