Urban Outfitters Drops: What Wall Street Is Saying
Urban Outfitters reported soft holiday sales and a new management team with CEO Trish Donnelly stepping down at the end of the month.
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Shares of Urban Outfitters (
URBN) - Get Report dropped after investors and analysts reacted to the apparel retailer s holiday sales period and new management team. Urban Outfitters said holiday season net sales declined 8.4% year over year, while comparable retail-segment sales fell 9%.
The company said that Chief Executive Trish Donnelly would step down at the end of the month to pursue another opportunity. She ll be succeeded by Sheila Harrington, who will take over the company s Urban Outfitters and Free People brands.