Why Urban Outfitters Stock Sank 14% Today
Urban Outfitters(URBN) The Motley Fool·2024-02-28 16:30Shares of Urban Outfitters (URBN -14.22%) were down by about 14% as of 11:25 a.m. ET Wednesday after the teen clothier reported a fourth-quarter earnings miss Tuesday afternoon.Wall Street had been expecting the retailer to report a profit of $0.74 per share (adjusted for one-time items) on sales of $1.5 billion. Urban Outfitters nailed the sales target, but missed by a nickel on adjusted earnings, reporting $0.69 per share. Good news: Urban Outfitters missed on earningsOn a GAAP (generally accepted account ...