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Urban Outfitters Pre-Market Stock Tumbles As Sales Decline

Clothing retailer Urban Outfitters saw pre-market share prices tumble due to slumping sales.
Clothing retailer Urban Outfitters saw pre-market share prices tumble due to slumping sales. Photo Credit: Wikimedia Commons

FAIRFIELD COUNTY, Conn. -- Clothing retailer Urban Outfitters, which has a location on Post Road in Westport, saw shares take a 13 percent dive in pre-market trading due to slumping sales figures, according to Business Insider.

The company released its third-quarter earnings on Monday with net sales totaling $825 million, falling well short of Bloomberg's consensus estimate of $868.8 million, Business Insider reported.

The drop follows a trend among clothing retailers and department stores. Macy's, Nordstrom, and JC Penney also saw share prices fall after worse than expected earnings results, Business Insider said.

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