Ulta Salon Plunges After Forecast Trails Estimates
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Ulta Salon, Cosmetics & Fragrance, Inc., the beauty-product retailer with full-service salons in all of its stores, plunged in early trading after forecasting first-quarter profit that was less than analysts estimated.
Ulta slid 13 percent to $77.30 at 8:02 a.m. in New York. The shares had fallen 10 percent this year through the close of regular trading yesterday, compared with an 11 percent gain for the Standard & Poor’s 500 Retailing Index.