Several leading retail companies will report quarterly financial earnings this week, which comes shortly after the key Black Friday and Cyber Monday shopping holidays.
Here’s a look at some of the top companies reporting and what analysts are saying about them.
Ulta Beauty Earnings: Retailer Ulta Beauty (NASDAQ:ULTA) will report third-quarter financial results after market close on Thursday, Nov. 30. The company has beaten earnings per share and revenue estimates from analysts in each of the past five quarters, according to data from Benzinga Pro.
The company could report same-store sales below estimates, according to Goldman Sachs analyst Kate McShane.
The analyst, who had a Neutral rating and a $537 price target, said traffic data for Ulta was strong in August and September before declining in October.
“Our Neutral rating on Ulta is based on difficult top-line compares and an increasingly promotional environment,” McShane said.
Call-outs for strength in the beauty category by other retailers could bode well for Ulta Beauty according to Raymond James analyst Olivia Tong.
The analyst, who had a Strong Buy rating and price target of $500, said the third quarter could be challenging for the company given its lapping pricing.
“We continue to expect Beauty to be one of the more resilient categories in Consumer, an affordable luxury for holiday, and a robust pace of innovation to keep momentum going,” Tong said.
The analyst said Ulta’s wide range of price points could play well with consumers more conscious of price during the 2023 holiday shopping season.
“In our view, investors should be taking advantage of Ulta’s currently discounted valuation.”
Ulta’s third-quarter results are up against difficult comparable sales, Telsey analyst Dana Telsey said.
The analyst, who had an Outperform rating and $600 price target, said the beauty category is showing resilience.
“Across both prestige and mass, beauty has remained strong and Ulta continues to gain share, across all major categories,” Telsey said. “Overall, the beauty category continues to be attractive and resilient.”
The analyst said the first half of the year for Ulta was encouraging and the company was “uniquely positioned” to meet demand from different customers in the beauty sector.
Related Link: Shoppers Out In Full Force On Black Friday,…
Click Here to Read the Full Original Article at Cryptocurrencies Feed…
