Why Shares of Urban Outfitters Are Falling Today
Shares of retailer Urban Outfitters (NASDAQ: URBN) were falling on Monday, as investors grappled with the likelihood that the company's brick-and-mortar shutdown will last much longer than originally expected.
As of 1 p.m. EDT, Urban Outfitters' shares were down about 9% from Friday's closing price.
Like most non-essential brick-and-mortar retailers in North America, Urban Outfitters has already shuttered its stores. The company said on March 14 that it will close all of its stores, all around the world, until at least March 28. (For those keeping track, note that the company also promised to pay its store teams during the shutdown.)
Source Fool.com
