NEW YORK (TheStreet) -- Shares of Urban Outfitters Inc. (URBN) are higher by 10.73% to $33.23 in mid-morning trading on Thursday, as retail stocks appear to be getting a boost from an increase in retail sales for November, which has grown the most in eight months, according to MarketWatch.
U.S. retail sales increased 0.7% in November, compared to the 0.5% rise in October, and analysts' expectations of 0.4% growth.
The better than expected retail sales data saw U.S. stock futures extend their gains, MarketWatch added. Over the past 12-months retail sales have risen 5.1%.
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Other retailer stocks gaining today include Nordstrom Inc. (JWN) , higher by 1.98% to $74.84, TJX Companies Inc. (TJX) , gaining by 2.47% to $65.88, and Gap Inc. (GPS) up by 2.37% to $40.15 this morning.
Additionally, Urban Outfitters stock may also be rising after the company provided positive outlook for its same-store-sales for the current quarter. The retailer said that "thus far during the fourth quarter of fiscal 2015 comparable retail segment net sales are low single digit [percentage] positive," MarketWatch said.
An analyst from Janney Capital Markets told MarketWatch that Urban Outfitters' sales are tracking at the higher end of her guidance.
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