Although the top line looked good, there were subtle underlying problems with Urban Outfitters’ third-quarter results. Shares of basics retailer Urban Outfitters (NASDAQ:URBN) fell sharply at the open of trading on Nov. 23, dropping as much as 14.5% in the first few minutes of trading. The relevant news here, however, was seemingly positive, as the company reported record sales and profits when it announced earnings after the close on Nov. 22.
