Ulta Warns of Cooling Demand Amid Ongoing Consumer Caution

After years of strong sales growth, Ulta Beauty is warning of a slow period ahead.The retailer’s chief executive said Wednesday (April 3) that he expects moderate mid-single digit sales growth, sending the company’s stock tumbling.“What we’ve seen so far is a slowdown in the total category across price points and segments. That’s a bit earlier and a bit bigger than we thought,” said CEO David Kimbell, whose comments to J.P. Morgan analysts during a fireside chat were reported by Reuters.“The competitive env ...