美容零售商Ulta美容（ULTA）今日盘中股价大跌9.75%，引发了市场广泛关注。
消息面上，公司稍早前公布了第四季度财报，业绩表现喜忧参半。虽然营收达到39亿美元，超过了市场预期的38亿美元，但每股收益为8.01美元，略低于分析师预期的8.03美元。更为关键的是，公司对2026财年的业绩指引中值为摊薄每股收益28.30美元，略低于市场此前预期的28.40美元中值，显示出对未来盈利增长的保守态度。
此外，成本上升是拖累股价的另一重要因素。公司第四季度的销售、总务和行政成本同比上升了23%，达到10亿美元，主要由于激励性薪酬激增以及对市场营销和去年收购的英国连锁店Space NK的持续投资。这导致营业利润率从去年同期的14.8%下降至12.2%。同时，公司面临来自沃尔玛、塔吉特等零售巨头的激烈竞争，并对“全球冲突”的潜在影响持谨慎警告。财报公布后，包括Piper Sandler、杰富瑞和摩根大通在内的多家华尔街机构下调了该股的目标价，进一步打击了市场信心。
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