Ulta Beauty reported that second-quarter earnings and revenue missed expectations. Same-store sales declined, leading to lowered projections for the fiscal year. CEO Dave Kimbell defended the brand's engagement and operational strength. He attributed the disappointing results to normalizing demand post-pandemic, increased competition, and more value-conscious consumers. The cosmetics retailer is addressing challenges by enhancing its digital presence and loyalty programs. Shares dropped 7% after hours, and the stock is down 25% year-to-date.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:02Ulta Beauty reported second-quarter earnings and revenue that missed expectations.
00:07Same-store sales declined, leading to lower projections for the fiscal year.
00:11CEO Dave Kimball defended the brand's engagement and operational strength.
00:15He attributed the disappointing results to normalizing demand post-pandemic, increased
00:19competition, and more value-conscious consumers.
00:22The cosmetics retailer is addressing challenges by enhancing its digital presence and loyalty
00:27programs.
00:28Shares dropped 7 percent after hours, and the stock is down 25 percent year-to-date.
00:32For all things money, visit Benzinga.com.