Urban Outfitters Q3 sales below plan

Urban Outfitters, a top retail performer during the recession, announced lower than expected sales for the third quarter on Monday.

The company said comparable retail sales, which include direct sales, declined 3%.

Comparable store sales declined 7% companywide.

Urban comps were flat.

Anthropologie comps fell 7%.

Free People comps rose 14%.

Comparable sales in the company’s direct channels were more encouraging, rising 15%. Wholesale sales increased 13%.

Urban’s stock was down 4% to $26 in trading Tuesday morning.

The company will report third quarter earnings on Nov. 14.