Ulta shares fall as CEO warns beauty demand is slowing

People walk past an Ulta Beauty store in the Manhattan borough of New York City, New York, U.S., March 8, 2022.Ulta Beauty shares tumbled about 13% on Wednesday as CEO Dave Kimbell warned of cooling demand for beauty products.Other stocks in the segment, including E.L.F. Beauty, Estee Lauder and Coty, also fell on Wednesday morning."We have seen a slowdown in the total category," Kimbell said at an investor conference hosted by JPMorgan Chase. "We came into the year — and we talked about this on our [earnin ...