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Stocks Struggle for Gains as Urban Outfitters Tanks on Weak Quarter

July 12, 2023
in Trade Tube
Reading Time: 1 min read
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Stocks were trying hard for gains in midday trading Tuesday as benchmark indexes hugged the flatline. The Dow was flat as Walmart (WMT) pulled the index in one direction, while Home Depot (HD) pulled in another. Urban Outfitters (URBN) plummeted after first-quarter results missed estimates. The retailer reported weakened margins as it relied on discounts and promotions to attract customers this quarter. Dick’s Sporting Goods (DKS) was also suffering after a poor quarter. Profit fell 10% led by a double-digit decline in comparable-store sales at its Golf Galaxy stores. Take-Two Interactive surged as quarterly revenue climbed 54%.

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