Urban Outfitters Warns On Q2 Sales, Shares Down

(RTTNews) - Clothing retailer Urban Outfitters, Inc's. (URBN) stock fell Thursday after warns on current quarter comparable retail sales.

The company said in a SEC filing that comparable retail segment net sales for the current second quarter that began May 1 had fallen by a percentage in the mid single-digits.

Analysts have projected comparable sales to increase 1.1% in the second quarter, according to Retail Metrics. The company reported comparable sales rose 4% in the year-ago second quarter and 1% in the first quarter.

Shares of Urban Outfitters declined 7.77% to $25.76 in after-hours trading.