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The Company is reducing its capital expenditure and expense plans and aligning inventory positions with current sales trends.
March 23, 2020
By: Happi Staff
Ulta Beauty, Inc. announced updates to its operations in response to the continued spread of COVID-19. As a precautionary measure and to enhance financial flexibility, the Company recently drew down $800 million under its revolving credit facility and is re-evaluating the pace and timing of its stock repurchase program. Including the revolver drawdown, the Company had cash on hand of approximately $1.3 billion as of March 18, 2020. In addition, the Company is reducing its capital expenditure...
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