Ulta and e.l.f. Beauty Stocks Rebound After Earnings, Target Stock Falls
Beauty stocks Ulta Beauty (NASDAQ:ULTA) and e.l.f. Beauty (NYSE:ELF) are rebounding Monday after both companies beat Q2 earnings estimates and raised full-year guidance, reversing a post-earnings selloff from Friday. ULTA is up 4% to $538 while ELF gains 5% to $108.92. The sector outperforms the broader market as SPY declines by nearly half a percent. Ulta Beauty reported Q2 net income of $282 million, or $6.55 per share—beating expectations—and raised its full-year EPS guidance range from $28.36 to $28.80 to $28.70 to $29. The company also increased sales growth and comp sales targets. e.l.f. Beauty is rebounding after a 14% YTD decline, while Ulta seeks to recover lost ground. Meanwhile, Target (NYSE:TGT) shares fall by 1%, following the end of its shop-in-shop partnership with Ulta and the launch of its own in-store beauty concept.
Topics: e.l.f. Beauty Q2 earnings beat retail sector Ulta Beauty