Why Shares of Ulta Beauty Are Down Today
Shares of Ulta Beauty (NASDAQ: ULTA) were down sharply on Thursday morning, as concerns about the COVID-19 pandemic's effect on businesses drove a broad-based market sell-off.
As of 10:30 a.m. EDT, Ulta Beauty's shares were down about 10% from Wednesday's closing price.
Like just nearly every other business with a major brick-and-mortar retail presence, Ulta is facing concerns about retail foot traffic amid measures to combat the spread of the novel coronavirus. Public-health experts are recommending the widespread implementation "social distancing" measures -- or put another way, telling everyone to stay home.
Source Fool.com