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After a stellar 2022 for a big chunk of the sweetness industry, some cracks are starting to indicate in two of the most important players’ financial results — the Estée Lauder Cos. and Ulta Beauty. But is that this an indication that an enormous slowdown is on its way for the industry after having fun with the fruits of a post-pandemic boom?
Based on analysts, the recent results shouldn’t sound the alarm for the industry as an entire, although expect some moderation in growth because the 2022 comps will likely be very tough to beat.
In any case, as consumers returned en masse to beauty post-COVID-19, despite soaring inflation and recession fears, 2022 was a 12 months that Ulta Beauty clocked in...
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Ulta Beauty’s stock price dipped as much as 10 percent in after-market trading Thursday as its period of rapid sales growth began to moderate.
Net sales increased 12.3 percent to $2.6 billion in the primary quarter of fiscal 2023, in comparison with $2.3 billion in the identical period last yr and a touch below analysts’ predictions of $2.62 billion.
Comparable sales, which include stores open at the least 14 months and e-commerce sales, increased 9.3 percent in comparison with a rise of 18 percent in the primary quarter of fiscal 2022.
“We entered 2023 anticipating that the unprecedented growth in the wonder category would moderate and that the promotional environment would increase,” said chief financial officer Scott Settersten during a call with analysts....
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