Ulta raised its full-year outlook after reporting better-than-expected results in the third quarter, a sign that consumers are overcoming any reluctance to spend and shelling out for cosmetics and hair supplies. The company now expects comparable sales to be up as much as 4.7% in the current fiscal year. Ulta guided in August for that figure to be up as much as 3.5%. It also raised its outlook for net sales and earnings per share. The results are the latest sign that US demand for cosmetics is weathering economic uncertainty and deteriorating consumer sentiment as a post-pandemic boom in beauty products persists. Bloomberg News Consumer Reporter Jeannette Neumann joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Alexis Christoforous. (Source: Bloomberg)
www.bloomberg.com
#Ulta #Raises #Outlook #Demand #Cosmetics #Remains #Robust
Ulta Raises Outlook as Demand for Cosmetics Remains Robust
