Shares of Beauty Retailers Down After Amazon Announces Professional Store

Date : 06/24/2019 @ 4:59PM
Source : Dow Jones News
Stock : Ulta Beauty Inc (ULTA)
Quote : 254.9  -7.3 (-2.78%) @ 3:18PM

Shares of Beauty Retailers Down After Amazon Announces Professional Store

Ulta Beauty (NASDAQ:ULTA)
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   By Stephen Nakrosis 
 

Shares of some cosmetics retailers are falling in Monday's market, after Amazon.com said it was opening an Amazon Business site aimed at beauty professionals.

Just after 12 p.m. ET on Monday, shares of Ulta Beauty Inc. (ULTA) had lost 3.08% to trade at $344.81. Sally Beauty Holdings Inc. (SBH) were down 12.65% at $12.92. Shares of CVS Health Corp. (CVS) were down 1.4% at $52.90, and shares of Walgreens Boots Alliance Inc. (WBA) had lost 0.68% to trade at $52.09.

Earlier Monday, Amazon announced the new business site, which will be open to professional beauticians, barbers and others, will provide cosmetics and other merchandise from a wide variety of vendors, with free shipping available to Business Prime members.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 24, 2019 12:44 ET (16:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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