The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PHILADELPHIA, United States — Urban Outfitters Inc. suffered its worst stock decline in almost seven months after warning of a sales decrease this quarter, renewing concerns about a slowdown at the retail chain.
Same-store sales are falling by a percentage in the mid-single digits in the second quarter, which runs through July, the Philadelphia-based company said in a filing on Thursday.
The company said in May that second-quarter sales were slowing compared with the previous period. But at the time, chief executive officer Richard Hayne blamed an unseasonably cool spring for the slowdown. The latest update sparked fears that Urban Outfitters may be facing a deeper slump.
Urban Outfitters fell as much as 8.3 percent to $25.61, the biggest intraday decline since November. The stock had been up 23 percent this year before the rout.
By Lindsey Rupp; editors: Nick Turner and Kevin Orland.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.