ULTA - Ulta CEO: Consumer Spending Is Cooling Off. Here's What That Means for the Beauty Stock
2024-06-09 05:40:00 ET
If you ask Dave Kimbell what's going on in the cosmetics space, the Ulta Beauty (NASDAQ: ULTA) CEO would say there's a general slowdown. And he's been saying it for months now.
Back at J.P. Morgan 's 10th Annual Retail Round Up Investor Conference in April, Kimbell spooked investors when he said: "What we've seen so far is a slowdown in the total category across price points and segments. That's a bit earlier and a bit bigger than we thought." Ulta Beauty stock is down 26% since Kimbell said this.
Then, on May 30, Kimbell discussed Ulta Beauty's plan "To navigate near-term pressures" in the industry and the economy. In short, the company believes consumer spending is cooling off. However, I'm not sure that all cosmetics companies would agree that there's a general slowdown in the space.
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Ulta CEO: Consumer Spending Is Cooling Off. Here's What That Means for the Beauty Stock