Stock Track | Ulta Beauty Plummets 9.75% Intraday on Weak Guidance, Rising Costs and Selective Consumer Spending

Stock Track03-13 21:55

Ulta Beauty's stock experienced a sharp intraday plummet of 9.75% on Friday, marking one of its worst trading sessions in recent years. The significant decline came as the market digested the company's latest financial update and its outlook for the coming fiscal year.

The sell-off was primarily triggered by Ulta Beauty's weaker-than-expected annual profit guidance. The company forecast diluted earnings per share for fiscal 2026 in the range of $28.05 to $28.55, which fell short of analyst consensus estimates. Furthermore, Ulta projected comparable sales growth of 2.5% to 3.5%, with the midpoint below market expectations, indicating a slowdown from the prior year's performance.

Adding to investor concerns were the company's rising costs, with selling, general and administrative expenses jumping 23% to $1 billion in the December quarter. CEO Kecia Steelman noted that consumer spending has become increasingly selective, with shoppers focusing on value and affordability, while also expressing caution about the potential impact of global conflicts on economic conditions. The disappointing guidance prompted several Wall Street firms, including Morgan Stanley, JP Morgan, and Wells Fargo, to cut their price targets on the stock.

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