Consumers continued to buy beauty in the first quarter, sending Ulta Beauty’s sales up 12.3% to $2.6 billion, according to a company press release. The retailer’s comps increased 9.3%.
While the beauty giant has largely stayed resilient to the impacts of inflation, CEO Dave Kimbell noted some potential concerns this quarter, with its cheaper mass beauty category growing faster than prestige.
Like many in the retail industry, Ulta executives called out theft as an “increasingly concerning challenge,” with Kimbell telling analysts that incidents have become more violent and aggressive.
Source: RetailDive
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