Ulta Shines Through Storm Clouds In 2019, Enters Shadow Of COVID-19
Ulta Beauty booked a 10% increase in net sales in fiscal 2019 despite a grinding makeup category slowdown. The retailer expects continued growth, albeit somewhat moderated, in 2020 – at least before coronavirus impacts admittedly “very difficult to predict or quantify.”
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CEO Mary Dillon noted during Ulta’s fiscal 2019 year-end call the rise of “clean beauty” at a time of growing interest in cosmetic ingredient safety. The retailer aims to provide its customers in 2020 with “a framework to help them evaluate products based on what's most important to them.”
With color cosmetics sales on the decline in the US, retailer Ulta Beauty is confident marketers can inject some excitement and innovation into the category, but acknowledges the shift may take some time.
During ELC’s third-quarter earnings call, leadership cited China, Australia and Israel as markets where store re-openings and a return to normal living are driving social and professional occasions for resumed makeup use. The firm’s Q3 net sales increased 16%, reported, to approximately $3.86bn.