By  on November 19, 2019

Shares of Urban Outfitters fell sharply Tuesday after the company saw a steep drop in profits in the third quarter even as sales rose.

The teen retailer, parent company to the Anthropologie Group; Free People, a food-and-beverage business; as well as its namesake brand, increased top-line sales for the three-month period ending Oct. 31, but fell short on profits. The company’s shares, which are already down roughly 20 percent year-over-year, fell more than 15 percent during after-hours trading Tuesday as a result.  

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