Why Ulta Beauty Stock Sank on Wednesday

Investors didn't like what management had to say this morning.Shares of cosmetics retail chain Ulta Beauty (ULTA -15.00%) sank on Wednesday following some commentary from management at J.P. Morgan's 10th Annual Retail Roundup investor conference. As of 1:20 p.m. ET, Ulta Beauty stock was down 14%.Management tempers expectationsUlta Beauty CEO Dave Kimbell and future CFO Paula Oyibo gave a fireside chat at the aforementioned conference at 9 a.m. ET this morning. The duo warned investors that the company is s ...