Analyst Sees Ulta Beauty's Q2 Outperformance Driven By Shifting Beauty Trends

JP Morgan analyst Christopher Horvers reiterated the Overweight rating on Ulta Beauty, Inc. ULTA, citing recent data that suggests a stronger second-quarter performance than current market expectations.Horvers highlighted a positive shift in beauty product sales within the Food, Drug, and Mass (FDM) channels, which turned slightly positive at +0.1% for the four weeks ending June 14. This marks an improvement from the prior month’s -1.2% (which was also revised up by 30 basis points).While quarter-to-date tr ...