Of its three chain's the 32-store Free People, experienced the biggest plunge, dropping 23%. The 123-unit Anthropolgie chain followed, with a 13% dive, while its namesake stores, of which there are 143, sank 6%.
Urban Outfitters is opening 42 new stores this year. In the first quarter it opened one Urban Outfitters, two Anthropologies and two Free People units. In the fourth quarter, management had said it expected to open between 42 and 45 units.
Urban Outfitters full earnings report is scheduled for a May 14 release.
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