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CEO of struggling Urban Outfitters resigns

Urban Outfitters Inc. fell after the retailer said chief executive Glen Senk resigned and cofounder Richard Hayne would take over to try to reverse the retailer’s yearlong profit fall. Hayne helped start the company in 1970 and has been its chairman. Adding to the earnings woes was a spate of bad publicity, including a tiff with a jewelry designer that triggered a backlash from many shoppers, including pop singer Miley Cyrus.

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