Shares of Urban Outfitters Inc. fell more than 20 percent Thursday after the company revealed its November same-store sales were flat and could “further decelerate” during the holiday season.
The pessimistic assessment came in a Securities and Exchange Commission 10-Q filing on the firm’s third-quarter results, which included a 9.9 percent increase in comparable-store sales, led by a 17.1 percent rise in comps at Urban Outfitters and gains of 1.8 percent and 3.9 percent at the Anthropologie and Free People units, respectively. The statement contributed to a decline of $3.88, or 20.6 percent, dropping Urban’s shares to a $14.98 close on a day when the Standard & Poor’s Retail Index suffered a 4.6 percent decline to 273.37.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)