Why Ulta Beauty Shares Are Falling Today
Ulta Beauty, Inc. (NASDAQ:ULTA) shares are falling on Wednesday.
The company’s executives cautioned about a deceleration in demand across categories in the first quarter, Reuters reported.
Ulta expects its overall category to grow moderately in the mid-single-digit range, marking a shift from previous years of robust expansion, the report read.
“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,” CEO David Kimbell told J.P. Morgan analysts during a fireside chat, Reuters added.
However, while reporting fourth-quarter results last month, the company said it expects fiscal year 2024 re
