"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.