A Consumer Pullback and Competition Hit Ulta Beauty's Results. Its Stock Is Dropping

Key Takeaways Ulta Beauty posted weaker-than-anticipated results and reduced its guidance as consumers limited their spending and competition increased. The company reported a surprise drop in comparable-store sales as transactions declined. CEO David Kimbell said Ulta Beauty's market share continues to be challenged. Shares of Ulta Beauty (ULTA) slumped after the seller of beauty products reported worse-than-expected results and cut its outlook on a surprise drop in comparable store sales. Consumers limite ...