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Urban Outfitters Net Income Drops 21 Percent as Comps Decline

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Urban Outfitters said wholesale and digital channels were up, but negative comp-store sales and high markdowns weighed down profits. In a Nutshell: Urban Outfitters Inc., which operates the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, posted record first quarter sales, but profits were slashed by higher markdowns and deleverage in delivery and logistics

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