Urban Outfitters Stock Falls After Jefferies Downgrade as Retailer's Foot Traffic Slows
Urban Outfitters shares decline after Jefferies warned about slowing foot traffic at the clothing and shoe retailer.Jefferies cut its rating on the stock to Underperform from Hold, and reduced the price target by $10 to $32.Analyst Corey Tarlowe said along with declining foot traffic, Urban Outfitters faced promotional pressures and more competition.