Why Urban Outfitters, Inc. Stock Popped Today
Shares of Urban Outfitters (NASDAQ: URBN) rose 8.1% on Friday after the company announced a new board appointment and share-repurchase program. More specifically on the latter, Urban Outfitters authorized the repurchase of 20 million common shares, incremental to the roughly 985,354 shares remaining under its current authorization.
On the former, Urban Outfitters expanded its board from nine members to 10 members and elected Sukhinder Singh Cassidy as a director. Ms. Cassidy, for her part, most recently served as CEO of Polyvore, was president of Google's Asia Pacific and Latin America regions, and was an early business-development executive at Amazon.
IMAGE SOURCE: URBAN OUTFITTERS.
Source: Fool.com