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Activist group criticizes Urban Outfitters board

Published 05/01/2017, 07:42 AM
© Reuters.  Activist group criticizes Urban Outfitters board
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  • CtW Investment Group hammers the board at Urban Outfitters (NASDAQ:URBN) for its "extreme insularity" and the retailer's weak share price performance.
  • The activist firm recommends that Urban shareholders vote against two long-standing members of the board up for re-election at the company's annual meeting on May 23.
  • "Given the company’s failure to address growing concerns regarding the diversity of the board and changes in consumer spending habits, the nominating committee has largely failed to recognize the necessary director qualifications required during this very critical juncture," writes CtW.
  • Shares of Urban Outfitters are down 24% over the last 52 weeks, compared to a 3% drop for the S&P Retail ETF.
  • Now read: bebe Stores Liquidation Isn't A Leading Indicator Of Anything


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