Shares of Beauty Retailers Down After Amazon Announces Professional Store
June 24 2019 - 12:59PM
Dow Jones News
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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