Urban Outfitters shares slide on weaker-than-expected same-store sales
Shares of Urban Outfitters Inc. declined in Thursday's extended session after the retailer announced same-store sales that fell short of Wall Street's estimates. Urban Outfitters said fourth-quarter sales rose 3.7% to $1.13 billion while same-store sales increased 3%, falling short of the 4.5% growth forecast by analysts in a FactSet poll. For the full year ended Jan. 31, sales grew 9.3% to $4 billion on the back of an 8% rise in same-store sales. The company will report fourth-quarter earnings on March 5. Shares of Urban Outfitter slid 2.6% after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.