The cosmetics retailer Ulta Beauty plunged as much as 5.55% to $276.5 a share after the company reported a worse-than-expected guidance.
The cosmetics retailer Ulta Beauty fell as much as 7.05% to $272.27 a share late Thursday after the company reported disappointing guidance.
Here are the key numbers compared to what analysts are expecting according to Bloomberg:
"Ulta Beauty’s strong performance in the third quarter reflects continued market share gains across all major categories, acceleration in our overall comp driven by healthy traffic, excellent new store productivity, and robust e-commerce growth," CEO Mary Dillon said in a press release.
Shares were little changed before the results on Thursday, trading near $290 apiece. The stock has been rallying since August 30 — up 18.8% — when reality star Kylie Jenner announced she would sell her cosmetic brand in Ulta Beauty stores during the holiday shopping season.
"I'm so excited to let you guys know that @KylieCosmetics will be coming to all @ultabeauty stores around the country this holiday!" the 21-year-old entrepreneur tweeted in August to her 25 million followers, adding that there was "more to come…"
Wall Street has been waiting to see how the partnership can drive traffic.
"Traffic surrounding the Kylie Cosmetics launch was particularly strong; checks through Black Friday weekend point to meaningful share transfer from legacy channels to Specialty formats," Stephanie Wissink, a Jefferies analyst said ahead of the earnings release.
"Our webscrapes related to the 'newness' factor also point to a growing number of 'exclusive' stock keeping units and higher week/week changeovers, especially online."