Ulta Beauty Stock News

Ulta Beauty noted a decline in traffic and cut its full-year forecast after Q2 results missed both internal and analyst estimates.

The retailer's CEO said in May that the chain has faced increasing challenges in terms of its market share.

Ulta Beauty, Inc. (NASDAQ:ULTA ) Q2 2024 Earnings Conference Call August 29, 2024 4:30 PM ET Company Participants Kiley Rawlins - VP, IR Dave Kimbell - CEO Paula Oyibo - CFO Kecia Steelman - President & COO Conference Call Participants Steven Forbes - Guggenheim Securities Amy Teske - Baird Michael Lasser - UBS Rupesh Parikh - Oppenheimer Kelly Crago - Citi Korinne Wolfmeyer - Piper Sandler Jul...

Revenue rose slightly in the second quarter, but comparable sales fell by 1.2%. Gross profit margin deteriorated from 39.3% to 38.3%.

Ulta Beauty cut its annual sales and profit forecasts on Thursday, hurt by slowing demand for higher-priced cosmetics and fragrances at its stores.

Ulta Beauty fell short of second-quarter expectations and trimmed its full-year guidance. Comparable sales for the second quarter fell 1.2%, compared to an 8% increase a year earlier.

BOLINGBROOK, Ill.--(BUSINESS WIRE)--Ulta Beauty Announces Second Quarter Fiscal 2024 Results.

A recent purchase of the retailer's shares by Warren Buffett's Berkshire Hathaway has attracted much attention. One pundit reduced his price target, but steadfastly maintained his bullish outlook on the stock.