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Urban Outfitters shares drop after filing shows flat retail comp sales

A shopper exits an Urban Outfitters store in New York.
Michael Nagle | Bloomberg | Getty Images
A shopper exits an Urban Outfitters store in New York.

Shares of Urban Outfitters dropped more than 2 percent in premarket trade Thursday after the retailer said its preliminary same-store sales for the quarter did not grow.

"Thus far during the third quarter of fiscal 2017, comparable retail segment net sales are flat," the company said on Thursday in a 10Q form to the U.S. Securities and Exchange Commission.

In August, Urban Outfitters said its retail segment, comparable net sales rose 1 percent in its fiscal second quarter. Analysts had expected comp sales of 1.7 percent in the third quarter, according to FactSet. Some analysts anticipated sales to be strong due to the updated fashion line in the fall selling season.

The stock later changed course and ended the day up 1 percent. So far this year, Urban's stock is up more than 59 percent.

A spokesperson for Urban Outfitters did not immediately respond to CNBC's request for comment.

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