2 Once-Hot Retail Stocks Are Struggling Friday
The stock market moved higher on the last day of the work week, with major market benchmarks gaining 1% or more late Friday morning. Ongoing enthusiasm about the prospects for artificial intelligence to lift the tech industry despite the impacts of a sluggish economy helped bolster sentiment, as did the belief that politicians in Washington will finally figure out a solution to the impending debt ceiling breach.
Yet in the retail sector, a couple of high-profile stocks suffered declines. Both Ulta Beauty (NASDAQ: ULTA) and RH (NYSE: RH) have gotten a lot of attention in recent years, but what they said in their latest financial reports suggests that they could be in for some tough times ahead. Have these two retail stocks already seen the best of times? Read on and find out.
Shares of Ulta Beauty were down 11% Friday morning. The beauty products and salon company reported fiscal first-quarter financial results for the period ended April 29, and investors finally got a taste of how an economic slowdown might affect Ulta's pace of future growth.
Source Fool.com
