Ulta Beauty Shares Drop 15% on Disappointing Outlook Due to High Debt and Mixed Retail Data
- Ulta Beauty shares plummeted 15% due to disappointing financial projections
- Combination of high credit card debt/interest rates and mixed consumer data dragging outlook
- Expecting sales at lower end of previous guidance
- Partnering with Serena Williams on new makeup line to try to boost sales
- Wall Street analysts have a Moderate Buy rating on stock, expect 32% upside potential
