11:04 AM EDT, 04/03/2024 (MT Newswires) -- Ulta Beauty ( ULTA ) shares dropped 13% in recent Wednesday trading after the company said it expects Q1 comparable sales to be at the lower end of previous H1 guidance,

"We would expect our Q1 comp to be on the lower end of that first-half guide that we provided of the low single digits," Chief Financial Officer Paula Oyibo said Wednesday at a retail conference, according to a Capital IQ transcript.

The company in March issued comparable sales growth guidance of 4% to 5% for fiscal year 2024 with growth in the low-single-digit range in H1 and mid-single digits in H2.

Price: 451.18, Change: -68.50, Percent Change: -13.18