Why Urban Outfitters Stock Was Falling Today
Shares of Urban Outfitters (NASDAQ: URBN) were sliding today after the apparel retailer posted a disappointing preliminary first-quarter earnings report Tuesday night. Sales fell sharply as the company was forced to close stores across the country due to the COVID-19 pandemic. At Free People, Urban Outfitters, and Anthropologie, they were down 19%, 24%, and 33%, respectively.