Shares of Urban Outfitters Inc. rallied 1.9% in afternoon trade Wednesday, putting them on track to close at an 11-month high. The 7.1% run up this week, ahead of Black Friday, is the best three-day pre-Thanksgiving performance since 2008, in the depths of the Great Recession. The gains come as the apparel retailer reported Monday fiscal third-quarter profits, revenue and same-store sales that beat expectations. Urban’s stock, which is headed for a seventh-straight gain, has now rocketed over 80% since it closed at an eight-year low in June. It is the most heavily weighted component of the SPDR S&P Retail ETF , with a 1.61% weighting as of Tuesday’s close. In comparison, Wal-Mart Stores Inc.’s weighting was 1.46% and Amazon.com Inc. had a weighting of 1.41%. The retail ETF was up 0.4% in afternoon trade Wednesday. Urban’s stock has gained 4.9% year to date, while the retail ETF has lost 5.3% and the S&P 500 has rallied 16.1%
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