30 Aug 2024 --- Ulta Beauty falls short of Wall Street’s quarterly performance estimates, citing growing market competition from the diversifying omnichannel playing field, particularly for premium beauty. The highly-anticipated report comes out just days after it was revealed that Warren Buffett’s conglomerate, Berkshire Hathaway, purchased about 690,000 Ulta Beauty shares this month, worth about US$266 million.While the US beauty retailer managed a slight lift in quarterly net sales, driven primarily by new store openings, underlying metrics reveal a slowdown with comparable sales for stores open at least 14 months and through e-commerce dipping 1.2%.
