Shares in largest US beauty retailer Ulta Beauty fallsBusiness | 25 Jun 2019 10:38 am
Consumer discretionary stocks and banks also helped pull the US market lower on Monday. Ulta Beauty dropped by 2.6 percent and Capital One Financial dropped by 3.1 percent.
Ulta Beauty is the largest U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services.
Net income increased by 16.9 percent to US$192.2 million compared with US$164.4 million in the first quarter of fiscal 2018. Net sales increased 1by 2.9 percent to US$1.74 billion compared with US$1.54 billion in the first quarter of fiscal 2018.
Energy stocks also declined. The sector remains volatile as oil prices fluctuate over concerns about economic growth and rising tensions in the Middle East. Concho Resources fell 3.4 percent.-AP/The Standard