Ulta Beauty Shares Drop on Lower Annual Profit Forecast
Ulta Beauty shares fell 8% today after the company issued a lower annual profit forecast. Rising marketing costs and cautious spending weighed on the outlook.
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Ulta Beauty, Inc. issued an annual profit forecast on Thursday that fell short of market expectations, as the retailer grapples with escalating marketing expenses and a cautious consumer environment. The announcement triggered an 8% decline in the company's shares during extended trading hours.
