Urban Outfitters shares feel festive upping 5.3%

Apparel retailer Urban Outfitters (URBN_) announced

in a regulatory filing that its retail same-store sales were up in the mid-single digits so far in the fourth quarter. Shares jumped 5.3% to $27.87.

Urban Outfitters said the fourth-quarter same-store sales in its retail segment are tracking up in the single-digit percent. The Philadelphia-based retailer provided the fourth-quarter update in a regulatory filing with the Securities and Exchange Commission. Shares of Urban Outfitters rose 9.6% to $29 in recent after-hours trading as the percent growth was above what analysts were projecting.

According to Reuters, the holiday season has started off well for Urban Outfitters Inc. as, so far in the fourth quarter of fiscal 2011, comparable store sales for the retail segment marked an increase of mid-single digits as per a recent filing by the company. Zacks Investment reports how prior to the holiday sales, Urban Outfitters, which competes with Gap Inc.

Gap Inc. (NYSE: GPS) and Abercrombie & Fitch Co. (NYSE: ANF), marked a 3% decline in the comparable store sales at its retail segment during the third quarter of fiscal 2011. Comparable retail segment net sales by brands rose 14% at Free People but fell 7% at Anthropologie while remaining flat at Urban Outfitters. Direct-to-consumer comparable net sales surged 15%.

Janney Capital Markets had estimated a 1% fourth-quarter decrease in comparable retail net sales. The firm said even if comparable store sales performance improves from trends seen in the third quarter, margins will likely suffer from aggressive markdowns and promotions to clear inventory, Dow Jones informed. As a result, the firm lowered its earnings-per-share estimates to 35 cents a share from 39 cents last week.

Meanwhile, fellow research firm Macquarie also remained cautious on the retailer, saying last week in a note that it has seen "no sign of fashion improvement and believe the company may continue to see sluggish sales and margin compression into 2012."

Elsewhere, NIKE shares have crossed bearishly below their 10-day moving average of $96.21 on a volume of 718K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term. Financial News Network published how NIKE share prices have moved between a 52-week high of $98.25 and a 52-week low of $69.43 and are now trading 38% above that low price at $95.86 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

At Financial News Network stressed the potential upside of 10.3% exists for Gap Inc, based on a current level of $18.57 and analysts' average consensus price target of $20.48. The stock should find resistance at its 200-day moving average (MA) of $19.22, as well as support at its 50-day MA of $18.52. In the past 52 weeks, shares of Gap Inc have traded between a low of $15.08 and a high of $23.73 and are now at $18.57, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.