Urban Outfitters Shares Tumbled

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Xiaobian network to introduce the Urban Outfitters sales continued to decline, the stock price plummeted 13%.

Urban Outfitters Inc. (NASDAQ:URBN), a young apparel retailer in the US, has recently updated its latest performance, saying sales have not been ideal since the three quarter of August, and retail sales have seen a low negative digit growth rate. It is expected that the pressure on gross margins will be more severe than that in the first half of the year, and warned that the three quarter earnings will be affected.

The news led to a sharp fall of 17.5% in Urban Outfitters Inc. (NASDAQ:URBN) and a drop of 12.91% to 30.10 dollars in the end. The stock closed at $34.56 on Thursday and a slight decrease of 0.37%.

Urban Outfitters Inc. (NASDAQ:URBN) recorded a net profit of 11.6% in the two quarter ended July 31st.

The decline dropped from $76 million 400 thousand a year or $0.51 a share to $67 million 500 thousand, or earnings per share of $0.49, mainly due to the continued decline in sales of the same name brand Urban Outfitters, while sales in the same store fell 10%.

The low performance of Urban Outfitters also resulted in a 190 basis point cut in gross margin from 37.4% in the same period last year.

In the two quarter, revenue increased by 7% to 811 million 300 thousand US dollars per year, higher than that in the first quarter.

For the projected US $804 million 700 thousand, Urban Outfitters revenue fell 2.4% to $328 million 600 thousand, and Free People and Anthropologie increased by 32% and 9% to 128 million 300 thousand US dollars and 347 million 700 thousand US dollars respectively.

Sales of Free People and Anthropologie in the same store rose by 21% and 6% respectively.