Ulta slashes guidance again on flat sales and declining comps

Quick Summary:

Usually a high performer, the beauty retailer is losing share and struggling with the impacts of Sephora’s broad expansion at Kohl’s.

Piper Sandler analysts downgraded the beauty retailer’s stock a few months later, due to heavy promotions and increased competition from Kohl’s and Amazon.

The rough patch comes after years of strong sales, with the company topping $10 billion in revenue in 2022 thanks to 18% sales growth and following it up with a nearly 10% jump last year, to $11.2 billion.

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Article Details

Author / Journalist: Cara Salpini

Category: EconomyBusiness

Markets: United StatesMaliMexico

Topics: Year Prestige Ulta Sales Retailer Kohl’s Growth Beauty Kimbell Years Category

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 12:40:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 634 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 22318799

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