Urban Outfitters Faces Big Losses in the First Quarter

Just as states are beginning to reopen, breathing new life into retailers, companies are dealing with the reality of the tough quarter behind them. Urban Outfitters (NASDAQ: URBN) reported decreasing sales in its first quarter, but a strong digital program saw gains.

Consumers put clothing shopping on hold over the past few weeks as they heeded stay-at-home orders. With millions of people suddenly unemployed, there were also fewer funds for purchases outside of essentials.

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