Something big and pretty just showed up in Ulta Beauty's rear-view mirror.
Shares of Ulta Beauty (ULTA - Get Report) lost some of their sheen on Monday after online retail behemoth Amazon (AMZN - Get Report) announced the launch of its own beauty product store for professionals, raising the specter of previously unforeseen competition on both pricing and reach in the world of beauty supply products.
In a blog post, Amazon announced on Monday that it has opened the Amazon Professional Beauty Store to offer professional stylists, barbers, and estheticians beauty supplies typically found in salons and spas.
"We are pleased to offer those in the professional beauty industry even more selection through the convenient shopping experience our customers love on Amazon Business," said Steve Kann, director of customer driven experience at Amazon Business.
The announcement didn't sit well with Ulta Beauty investors, who sent the stock down more than 3%, or $11.82, to $344 following Amazon's announcement. Shares of Sally Beauty (SBH - Get Report) , another competitor in the retail beauty products space, plunged more than 13%, or $1.94, to $12.84.