Urban Outfitters said Thursday that poor retail sales it reported back in September would continue quarter-to-date.
Because of lower-than-expected sales, Urban Outfitters reported that its gross profit margin "may deleverage for the third quarter at a rate greater than during the first half of the year," which would hurt third-quarter earnings.
Competition may be a reason why Urban Outfitters' sales continue to be negative, according to Stifel research analyst Richard Jaffe. Read the full story here.
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