Ulta Beauty’s fell the most in nearly two years on Friday as rising costs deepened margin fears, with its new CEO flagging potential impact from global conflicts while the cosmetic retailer pursues a TikTok-led digital push.The company has leaned on premium celebrity brands such as Rihanna’s Fenty Beauty to attract younger and more affluent shoppers at a time when stubborn inflation and lingering economic worries continue to strain household budgets. While strong demand for trendy assortments supported an upbeat annual sales forecast, higher costs resulted in a muted profit outlook.
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