Urban Outfitters stock slides despite “record” holiday sales — what spooked URBN shares
Urban Outfitters shares fell 12% after hours Monday despite a 9% rise in holiday sales, as investors worried about profit margins and future demand. The stock touched $70.27 before recovering to $71.49. Apparel stocks broadly declined after weak forecasts from Abercrombie & Fitch and Birkenstock. Urban Outfitters opened 58 new stores and closed seven in the past eleven months.
