1451 ET - Ulta Beauty's years of big spending appear to be nearly in the rearview mirror, according to D.A. Davidson in a note. The company's guidance for this fiscal year includes selling, general and administrative expenses growth in line to below the sales forecast of a 6% to 7% increase, slowing from 17% growth in fiscal 2025, analysts Michael Baker and Keegan Cox say. "That doesn't mean ULTA won't invest in their business, but the magnitude will be much lower as the company harvests the investments of the past few years," the analysts say. The beauty retailer has previously invested in its supply chain, systems and store operations, as well as in wages and labor, incentive compensation and acquisitions, the analysts say. Ulta slides 13% after guiding for growth to slow this fiscal year as shoppers continue to hunt for value. (kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

March 13, 2026 14:51 ET (18:51 GMT)

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