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Urban Outfitters shares rise on mixed earnings report, Free People stands out

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Urban Outfitters shares rise on mixed second-quarter earnings report as Free People sales stand out

Sales at Urban Outfitter-owned stores open for at least 12 months fell 3%.reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Here's how the company did, compared with what Wall Street was expecting, according to analysts surveyed by Refinitiv:Revenue: $962 million, vs. $980.6 million estimated

"I am pleased to report that customer reaction to our early fall apparel assortments have improved significantly from our second quarter results," said CEO Richard Hayne. Third quarter same-store sales are positive for all three brands.

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