American Eagle Outfitters stock fell Wednesday, a day after the clothing retailer withdrew its full-year outlook and JPMorgan analysts responded by lowering their price target.

American Eagle Outfitters scrapped its outlook for the year, stating that macroeconomic uncertainty has made it too difficult to predict consumer spending.

American Eagle Outfitters Inc.’s stock dropped after it pulled its guidance for the full year following a first quarter that was marred by discounting and a write-down of inventory.