Ulta Beauty's shares fell 13% as executives warned of decelerating demand in Q1, predicting mid-single-digit growth.
Ulta Beauty shares fell more than 13% after the company's executives warned about a deceleration in demand across categories in the first quarter. Ulta expects its overall category to grow moderately in the mid-single-digit range, marking a shift from previous years of robust expansion. CEO David Kimbell stated that the slowdown has been "a bit earlier and a bit bigger than we thought."
April 03, 2024
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