Reported about 2 months ago
Urban Outfitters Inc. saw its stock prices drop by up to 15% after the company reported quarterly sales growth that fell short of Wall Street expectations. The retail segment's comparable sales increased by only 2%, below the anticipated 2.94%. Executives indicated that the slowdown may lead to more promotions and markdowns, negatively impacting gross margins. Analysts predict that lackluster sales could persist into the second half of the year.
Source: YAHOO