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Strategies & Market Trends : Commercial Real Estate tic.............tic,,,

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To: Peter V who wrote (120)	12/11/2008 3:55:27 PM
From: Smiling Bob	Read Replies (1) of 442

Not many healthy signs to be found UPDATE:Urban Outfitters Shares Dn On Same-Store Sales Warning Thursday 12/11/2008 10:37 AM ET - Dow Jones News Related Companies Symbol Last %Chg URBN 14.97 -20.63% As of 3:54 PM ET 12/11/08 (Updates share movement, further analyst comments and details throughout) By Shara Tibken Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of Urban Outfitters Inc. (URBN) fell as much as 22% early Thursday after the company said in a Securities and Exchange Commission filing November comparable-store sales were flat and could decline further during the holiday season. In recent trading, Urban Outfitters shares fell 19% to $15.26. Shares earlier had fallen as low as $14.70. "The company believes, based on current uncertainty and volatility in the marketplace, it is possible comparable store net sales may further decelerate during the remainder of the holiday season," Urban Outfitters said in a 10-Q filing. A representative from Urban Outfitters wasn't immediately available Thursday for further comment. Sterne Agee & Leach analyst Margaret B. Whitfield said analysts are lowering their estimates for the company. "There could also be ratings and target changes," Whitfield said. Several firms have cut their fourth-quarter estimates for the company, including Wedbush Morgan, PiperJaffray and FBR Capital Markets. Sterne Agee's Whitfield said her estimates for the company are under review. "The company indicated post-Thanksgiving business was very good," Whitfield said. "But uncertainty remains what will happen this month." Whitfield added Urban Outfitters said it took merchandise markdowns to be sure it would end the year in good shape regarding inventory levels. But analysts from FBR said in a note the increased markdowns would likely pressure merchandise margins. In the fiscal third quarter, Urban Outfitters' gross margin climbed to 40.9% from 39.5% amid reduced markdowns. Last month, Urban Outfitters reported a 31% increase in fiscal third-quarter net income. The specialty retailer has been outshining many peers with strong sales growth, including a 10% same-store sales increase for the period ended Oct. 31. Analysts from FBR pointed out if the company's fourth-quarter same-store sales are negative, it will be the first negative quarterly same-store sales since the first quarter of 2007. -By Shara Tibken, Dow Jones Newswires; 201-938-2168; shara.tibken@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires 12-11-08 1037ET Copyright (c) 2008 Dow Jones & Compan

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