By  on March 12, 2012

Urban Outfitters Inc.’s fourth-quarter profits fell 47.8 percent as the company cut prices to clear slow-moving women’s apparel, but Richard Hayne, who reclaimed the mantle of chief executive officer this year, is plotting a global bounce back.

Net income fell to $39.3 million, or 27 cents a diluted share, from $75.2 million, or 45 cents, a year earlier. Sales for the three months ended Jan. 31 rose 9.3 percent to $730.6 million from $668.4 million.

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