An Ulta Beauty store in New York, US, on Monday, Aug. 19, 2024.
Ulta Beauty shares sank 7% in extended trading Thursday as the company fell short of second-quarter expectations and trimmed its full-year guidance after a decline in same-store sales during the most recent period.
The company now forecasts full-year same-store sales in a range of flat to 2% down, compared with prior guidance of 2% to 3% growth.
Earlier this month, Warren Buffet's Berkshire Hathaway disclosed a $266 million stake in the beauty retailer, sending Ulta shares surging.
Clarification: This story has been updated to clarify that Ulta Beauty forecast full-year earnings per share of $22.60 to $23.50, down from a previous forecast of $25.20 to $26.
Persons:
Dave Kimbell, Kimbell, Paula Oyibo, Ulta, Warren Buffet's Berkshire Hathaway
Organizations:
LSEG
Locations:
New York