Shares of Urban Outfitters (URBN) tumbled Thursday to their lowest point since January as mꦬarkets focused on the retailer's sales outlook more than its second-quarter results that surpassed estimates.

The company behind retail brands including Anthropologie and Free People along with its namesake stores reported $1.35 billion in total revenue, slightly above analysts' estimates compiled by Visible Alpha. Urban Outfitters also reported better 澳洲幸运5官方开奖结果体彩网:net income than expected at $117.5 million, about 13% higher than last year.

Anthropologie, Free People Sales Rise; Urba🐻n Outfitters Works To Recover

澳洲幸运5官方开奖结果体彩网:Comparable store sales rose 6.7% year-over-year at Anthropologie and 7.1% at Free People. However, those at Urban Out♒fitters stores fell 9.3% year-over-year, larger than expected.

In Wednesday's earnings call, 澳洲幸运5官方开奖结果体彩网:Chief Operating Officer (COO) Frank Conforti said the retailer saw a "slight deceleration" in sales to end July and in the opening weeks of August, which JPMorgan analysts noted could suggest a slower third quarter. The analysts kept a neutral rating on the stock, and lowered their price target to $42 from $43 in response to the indication of weaker sales trends.

"While consumer traffic has remained consistent, overall purchasing activity has shown some softening," Conforti said. "New product launches continue to resonate well, though customers appear to be exercising more discretion in their buying decisions."

Shea Jensen, president of the Urban Outfitters brand in North America, added that the brand has "lost focus" of its customer base and how to attract new customers amid the transition from Millennials to Gen Z. Jensen said the brand plans to focus its advertising effort on younger shoppers, and revamp its product offerings to include categories more popular with Gen Z like athleisure, which will likely take time.

Urban Outfitters shares tumbled almost 13% about 30 minutes after the opening bell Thursday to $36.22, nearing their lowest point since the start of the year.