Shares nosedive after Ulta Beauty blames slow sales on lack of 'innovation'

Shares of cosmetics chain Ulta Beauty plummeted close to 30% Friday after it said sales are slowing. Comparable sales in the second quarter grew 6.2%, below expectations for growth of 6.7%. Ulta, which operates about 1,200 stores, also slashed its growth forecast for the year to 4% to 6%, down from 6% to 7%. On...