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Urban Outfitters down on first quarter results

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Shares of Urban Outfitters, Inc. (NASDAQ:URBN) are sinking this morning after the retailer released first quarter earnings that missed estimates. Same store sales at the teen apparel retailer plunged 12 percent in the quarter. The competition from cheaper retailers or fast fashion retailer such as Zara, H&M, and Forever 21 is continuing to pried customers away from Urban Outfitters and other teen retailers. Expenses were also higher in the quarter as a result of new store openings. I think teen retailers like urban Outfitters should considering adopting the same business model as fast fashion retailer or consider growing up because teens are constantly changing their preferences.