Ulta shares fall as CEO warns beauty demand is slowing
Publishing timestamp: 2024-04-03 12:13:40
Summary
Ulta Beauty shares fell 13% as CEO Dave Kimbell warned of cooling demand for beauty products, impacting other stocks in the segment as well. The slowdown in demand has been earlier and bigger than expected, with various economic factors affecting consumer spending in the beauty category. Ulta expects slower sales growth for the year compared to previous years.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2024/04/03/ulta-shares-fall-as-ceo-warns-beauty-demand-is-slowing.html