The stock was last quoted at $33.33, down 12.2%, on volume of nearly 1.4 million, according to Nasdaq.com. Based on a regular session close at $37.99, the shares were up roughly 10% in the past year, a move that reflects a rise of more than 30% since scraping a 52-week low of $29.03 on Oct. 21. Urban Outfitters said comparable retail segment net sales, which includes its direct-to-consumer operations, rose 4% in the quarter; although same-store sales dipped 2%. The company also noted a decline of 208 basis points in gross margins during the quarter, and cited increased markdowns to clear seasonal inventory and higher shipping costs stemming from a boost in international direct sales as the culprits. The 13% earnings shortfall in the latest quarter broke a streak of seven straight quarters of beating the average analysts' estimate for Urban Outfitters, which at current levels trades at a forward price-to-earnings multiple of 19.5X based on next year's consensus profit view of $1.95 a share. Wall Street was modestly bullish on the stock ahead of the report with 15 of the 28 analysts covering the shares at either strong buy (9) or buy (6). The median 12-month price target sits at $40.