Urban Oufitters Inc (NASDAQ:URBN) saw its shares slip lower in pre-market trading after dropping nearly 10% late yesterday after the clothing and accessories retailer issued a worse than expected same-stores sales outlook.
The company said that so far during its second quarter, which started in May, comparable retail segment net sales were down in the "high single-digit" percentage range from a year ago.
The same-store sales consensus for the current quarter was for a 2.3% fall at the end of May.
In pre-market trading on Nasdaq, Urban Outfitters shares were 0.7% lower at US$16.23 having plunged by 42% in the year to date,