RTTNews | Nov 23, 2021 10:32AM EST

10:32 Tuesday, November 23, 2021 (RTTNews.com) - Shares of lifestyle products company Urban Outfitters, Inc. (URBN) are trailing 11 percent on Tuesday's trading continuing their downward trend since Monday when it declared its third-quarter results. The company said in a statement that supply chain back-ups had negatively impacted sales during the quarter.

Even though the company posted higher profit and sales, its in-store sales fell in the mid-single digits when compared to last year.

Urban Outfitters reported third-quarter profit of $88.9 million or $0.89 per share, up from $76.7 million or $0.78 per share last year, while sales for the quarter rose to $1.13 billion from $987.5 million last year.

Currently at $32.97. the stock has traded between $24.40 and $42.10 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3244448/urban-outfitters-continues-downward-trend-as-supply-issues-affect-q3-sales.aspx)

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