Consumer gravitation to value products, pressure from competitors, an operational stumble, and underperforming promotions compelled Ulta Beauty, Inc. to lower its fiscal 2024 full-year outlook, CEO David Kimbell announced in a 29 August earnings presentation.
Ulta Lowers Fiscal ’24 Outlook On Consumer Behavior Shift, Competitive Pressures
The Bolingbrook, Ill.-based beauty retailer cuts its fiscal full year 2025 guidance, citing shoppers’ migration to value-based products and competitive intensity, among other factors. The firm reported net sales for the fiscal second quarter inched up 0.9% to $2.6bn.
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