The specialty beauty retailer's shares fell after it released a disappointing forecast, and laid out plans for growth.
Ulta Beauty is speeding up curbside pickup and adding same-day delivery, as it adapts to a more digitally savvy customer.The pandemic has disrupted the high-touch beauty industry and forced retailers, including Ulta Beauty, to come up with new ways to engage customers.Florida, Port St Lucie, The Landing at Tradition, outdoor mall, Ulta, beauty cosmetics store.
Shares dove more than 10% Tuesday on the disappointing forecast. Investors had high expectations for an explosion in demand as shoppers refreshed makeup bags and made plans to go out again. As of Monday's close, Ulta shares have risen 42% this year. Its market value is $22.09 billion. Sales online and at stores open for at least 14 months fell 17.9% in the fiscal year ended Jan. 30. Transactions also dropped by 24.5% last fiscal year as shoppers made fewer trips to Ulta's stores and its website.In the most recent quarter, Ulta's sales rebounded and surpassed pre-pandemic levels. The retailer's second-quarter same-store sales rose 56.3% compared with the year-ago period. Transactions jumped by 52.5% from the year-ago period.
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