Reported about 1 month ago
Ulta Beauty has reported weaker-than-expected earnings for the second quarter, with revenue at $2.55 billion and earnings per share of $5.30, both falling short of estimates. The beauty retailer is facing challenges due to post-pandemic demand normalization, heightened competition, and cautious consumer spending. Additionally, same-store sales declined by 1.2% year-over-year, contrasting sharply with significant growth in previous years. Ulta has adjusted its fiscal year projections downward and plans to enhance its strategies, including expanding its offerings and boosting its digital presence. The company’s shares fell 7% in after-hours trading following the earnings report.
Source: YAHOO