Retail

Ulta Q3 2020: Sales down 8.9 percent as masks hit make-up category

Ulta Q3 2020: Sales down 8.9 percent as masks hit make-up category

Ulta Beauty has announced better-than-expected sales for the third quarter of fiscal 2020. The US retailer saw sales drop 8.9 percent yoy to US$1.6 billion. However, despite market expectations of a steeper decline, shares fell last week as Ulta forecast further decreases over the holiday season hinting that the road to recovery could be long and slow-going.

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