LB - Why Shares of Ulta Beauty L Brands and Designer Brands Are Swooning Today
Shares of retailers Ulta Beauty (NASDAQ: ULTA), L Brands (NYSE: LB), and Designer Brands (NYSE: DBI) were all hit hard in Monday's marketwide sell-off, as investors came to terms with the likelihood that retail shopping in the U.S. and Europe will likely come to a near-halt soon due to measures to contain the novel coronavirus.
As of 1 p.m. EDT, shares of Ulta Beauty were down 18%, shares of L Brands were down about 30.4%, and Designer Brands' shares were down about 46% from Friday's closing prices.
Here's what investors need to know about these three stocks on Monday afternoon: