1819 ET - Ulta lost market share in the beauty industry in 2024 for the first time as it faces tighter competition, Chief Executive Kecia Steelman says on an analyst call. The beauty retailer has struggled to keep up with lower-priced competitors and e-commerce companies like Amazon, which have gained greater share among younger customers who prefer to shop online. Ulta has added a wide array of fulfillment choices, including online shopping and same-day delivery, Steelman says, but those have resulted in both increased engagement and execution challenges. "In store presentation and guest experience today are not as strong as we would like," she says. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 13, 2025 18:19 ET (22:19 GMT)
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