Why Ulta Beauty Stock Sank Today
Shares of cosmetics retailer Ulta Beauty (NASDAQ: ULTA) sank on Friday after the company reported financial results for the fiscal first quarter of 2023. As of 1:10 p.m. ET, Ulta Beauty stock is down 13%. In Q1, which ended in April, Ulta Beauty had net sales of $2.6 billion, up 12% year over year thanks to a 9.3% increase in same-store sales.