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Urban Outfitters Shares Tank

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December 11, 2008 |Comments: 0
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URBN

Urban Outfitters Inc's (URBN) 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.

Read the full analyst report on URBN

 
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