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Urban Outfitters Shares Tank
Urban Outfitters Inc's (URBN - Snapshot Report) share price took a dive a day after the apparel retailer reported flat same-store sale for November and cautioned of declining comps during the crucial holiday season.
The National Retail Federation forecast the worst holiday season in 6 years, and Urban Outfitters, which has generally been seen as a safe play in the retail segment, does not appear confident in its future performance. The company had reported a 10% rise in same-store sales in October.
Shares Urban fell as much as $14.70 in the early session, before paring some losses to trade down nearly 20% at noon.
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| Market Summary | Feb 09, 2010 22:38 pm ET |
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