Ulta Beauty and e.l.f. Beauty Rebound After Post-Earnings Selloff

EarningsAnalyst

โดย 24/7 Wall St.·

Summary · why it matters

Ulta Beauty and e.l.f. Beauty are reversing Friday's post-earnings decline, with Ulta Beauty up 4% to $538 and e.l.f. Beauty up 5% to $108.92, while the SPDR S&P Retail ETF slips 0.2% and the SPDR S&P 500 ETF Trust is down 0.46%. Both companies beat Q2 estimates and raised full-year guidance, but their shares sold off on Friday. Ulta Beauty reported net income of $282 million, or $6.55 per share, beating the $6.20 consensus, with revenue up 8.9% to $3.04 billion and comparable sales up 3.8%. The company raised its full-year EPS guidance to $28.70 to $29, sales growth to 6.7% to 7.2%, and comp sales to 3.2% to 3.7%. Meanwhile, Target is down 1% to $161.52 after ending its Ulta Beauty shop-in-shop partnership and launching its own Target Beauty Studio in over 600 stores. The rebound is partly attributed to an unnamed analyst upgrade, and investors are watching whether Ulta Beauty reclaims its pre-earnings level of $544.99 and whether e.l.f. Beauty holds above $105.