"I'm feeling more optimistic," said Glenn Senk, Urban's chief executive officer, said during the company's earnings call. "The environment is considerably more stable than it was in the second quarter."
Same-store sales were down across its chains by 7% year over year, while total sales fell 2%, to $385 million. Earnings per share slid as well, dropping 28% to 18 cents.
Comparable-store sales plunged 23% at its 32 Free People stores, were down 13% at its 123 Anthropologie units and at its namesake chain, which has 143 locations, they slid 6%. At Anthropologie, women's apparel had the worst performance, while at Urban Outfitters stores, housewares saw the biggest decline.
Senk says though traffic isn't down at its locations, the customer is getting more picky. "Our data tells us the customer's buying less, and she's discriminating," he said.
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