Urban Outfitters soaring shares began to level off Thursday as analysts suggest investors should remain cautious with the retail brand, despite revenue in the second quarter beating expectations.
Free People, one of the South Philadelphia-based retailer's three brands, had an unusually strong showing in the three month period. Sales at Free People increased 2.9 percent, according to CNBC, while the other brands' sales both fell – Anthropologie by 4 percent, Urban Outfitters by 7.9 percent.
The success at Free People helped the company overcome the other brands' shortcomings and beat expectations. Urban reported $873 million in revenue in the quarter, compared with the $861 million estimated.
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Yet the most recent quarter's revenue still lagged behind the same year-ago period, when the retailer reported $891 million in net sales.
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