Wires

Urban Outfitters sales miss expectations, shares drop 10%

Nov 19 (Reuters) - Apparel retailer Urban Outfitters Inc on Tuesday reported lower-than-expected quarterly sales, hit by lower demand for its namesake brand, sending its shares down about 10% after the bell.

Net sales rose 1.4% to $987 million, below the average analyst expectations of $1 billion, according to IBES data from Refinitiv. (Reporting by Soundarya J in Bengaluru; Editing by Amy Caren Daniel)