Why Urban Outfitters (URBN) Stock Is Trading Up Today
Shares of clothing and accessories retailer Urban Outfitters (NASDAQ:URBN) jumped 4.9% in the afternoon session after a key peer, American Eagle Outfitters reported strong earnings. American Eagle's stock surged after it reported second-quarter profits that more than doubled Wall Street's expectations, driven by successful celebrity-led advertising campaigns that boosted denim sales. The strong performance from a peer signals underlying strength in the retail sector, lifting investor sentiment f