Urban Outfitters sees profits slide in Q1

PHILADELPHIA — Urban Outfitters announced net income of $39 million, or earnings per diluted share of 23 cents for the first quarter ended April 30, compared with net income of $53 million, or earnings per diluted share of 31 cents. Total company net sales rose by 9% over the same quarter last year to $524 million. Comparable retail segment net sales, which includes direct-to-consumer channels, decreased 1% for the quarter while comparable store net sales decreased 5% for the quarter. "I am confident that we are on the right course to bring our business back to its high standards,"