Urban Outfitters (URBN) Sinks Nearly 14% on Warning

Urban Outfitters (NASDAQ: URBN) is trading down 13.6% after resuming trading after its third quarter warning.

Urban Outfitters announced today that third quarter negative comparable retail segment net sales, as reported in its Form 10-Q filed in early September 2014, has continued quarter-to-date. Due to the lower than expected sales, URBN believes its gross profit margin may deleverage for the third quarter at a rate greater than during the first half of the year. If this were to occur, the Company's third quarter earnings would be negatively impacted.

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