Ulta Beauty's CEO Warns of Sluggish First-Quarter Demand, Hits Industry Peers
Wednesday, 3 April 2024, 15:20
Ulta Beauty Signals Market Caution
Ulta now anticipates its total category to increase at a modest mid-single-digit range after years of strong growth.
Ripple Effect on Peers
Elf Beauty shares fell more than 8%, while those of Coty and Estee Lauder were down about 4%.
Margin Challenges Ahead
The latest warning comes after Ulta last month forecast annual profit below Wall Street estimates as supply chain costs and increased promotions squeezed its margins.
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