Ulta Beauty CEO cites slowing consumer spending in cosmetics, leading to a 26% stock drop.
Ulta Beauty CEO, Dave Kimbell, believes consumer spending is slowing down in the cosmetics industry. He first mentioned this at J.P. Morgan's 10th Annual Retail Round Up Investor Conference in April, and since then, Ulta Beauty's stock has dropped 26%. The company is developing a plan to navigate these near-term pressures. However, not all cosmetics companies may agree on a general slowdown in the market.
June 09, 2024
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