Consumer
Urban Outfitters Shares Sink on Disappointing Sales Growth
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Urban Outfitters Inc. shares slid after the owner of the Anthropologie and Free People brands posted quarterly sales growth that came in below Wall Street’s expectations.
The shares fell as much as 15% in New York trading after the company reported Wednesday that comparable sales in its retail segment rose 2%, below analysts’ average estimate of 2.94%. Comparable sales at its core Urban Outfitters brand also came in below expectations.