Urban Outfitters’ Stock Slides on Profit Loss

Clearance sales rose at Urban Outfitters Inc. last quarter, cutting profits and causing the company’s shares to plummet in after-hours trading on Tuesday. 

The retailer — which includes the nameplate brand as well as Anthropologie, Free People and a food and beverage company — released quarterly earnings after the bell, which showed an improvement in top-line sales, but was a hit to profits.