Ulta Beauty taking another look at stock buyback program, draws down $800 million from credit facility

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Ulta Beauty Inc. said Monday that it's reconsidering the "pace and timing" of its stock buyback program. The company has also drawn down $800 million from its credit facility. As of March 18, the company has $1.3 billion in cash on hand. The beauty and skincare retailer is also reducing its capital expenditures and expenses, and aligning its inventory with demand. Shoppers can place orders through the retailer's e-commerce site while many of its locations experience temporary closures. Ulta Beauty stock has slumped 55.2% over the last 12 months while the S&P 500 index is down 17.7%.