Reported about 1 month ago
Ulta Beauty reported a drop in shares after missing quarterly estimates for the first time in four years, attributed to increased competition in the beauty retail space, as noted by analyst R.J. Hottovy. He pointed out an oversaturation of beauty stores leading to a demand imbalance, although certain categories like fragrances are still thriving. Additionally, competitor Sally Beauty is outperforming Ulta following a strategic optimization plan.
Source: YAHOO