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March 30, 2020, 8:25 a.m. EDT

Ulta Beauty shutters all stores until further notice, gives distribution center workers a $2-per-hour pay bump

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By Tonya Garcia

Ulta Beauty Inc. /zigman2/quotes/210513442/composite ULTA +1.65% said Monday that it will close all of its stores until further notice. Store and salon associates will be paid until mid-April and continue to receive the benefits for which they are enrolled. Ulta's e-commerce business will remain operational, with distribution facility workers receiving a $2-per-hour pay raise. Last week, the retailer announced a series of coronavirus-related measures including drawing down $800 million from its credit facility and rethinking its stock buyback program. Ulta Beauty stock has lost half its value in the last year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.62% is down 10.3% for the period.

/zigman2/quotes/210513442/composite
US : U.S.: Nasdaq
$ 252.08
+4.10 +1.65%
Volume: 1.19M
June 5, 2020 4:00p
P/E Ratio
33.58
Dividend Yield
N/A
Market Cap
$13.96 billion
Rev. per Employee
$193,562
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/zigman2/quotes/210599714/realtime
US : S&P US
3,193.93
+81.58 +2.62%
Volume: 4.80B
June 5, 2020 5:07p
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