Brian Sozzi Discusses Urban Outfitters December Same Store Sales (URBN)

Brian Sozzi of Wall Street Strategies is out with a research report on shares of Urban Outfitters URBN after it reported December same-store-sales. Sozzi has a Hold rating, and lowered his price target to $32 from $36. In a note sent to clients, Sozzi writes, "Urban Outfitters (URBN) left the good seasonal cheer at home this morning. In our view, the holiday report card brings to life the following: (1) slowing core comps, where “core” is the sales trend at the physical store level; and (2) the comp increases for the holiday period appear to have been bought via a stepped up pace of promotions, specifically at Anthropologie and Urban Outfitters. We think the need to promote to clear inventory is derived by the shift in fashion (most notably in women) and the company's difficulties translating that into its assortments." Shares of URBN are off $1.04 in pre-market trading to $34.71.