Urban Outfitters Drops After Tough Holiday, Group CEO Departure

Urban Outfitters Inc. plummeted Tuesday after reporting a tough holiday quarter and a planned exit for the CEO of its namesake brand.

The retailer said in a statement that Trish Donnelly, chief executive officer for the Urban Outfitters chain, will depart at the end of the month for a new opportunity. Sheila Harrington, who already runs the Free People brand, will take ownership of the Urban Outfitters group as well.

Shares dropped 13% at 4:17 p.m. in New York after the close of regular trading.

Urban Outfitters, which also owns Anthropologie and several other chains, posted comparable retail ...