It has been about a month since the last earnings report for Ulta Beauty (ULTA). Shares have lost about 3.2% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Ulta due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Ulta Beauty Q2 Earnings Top Estimates, Sales Miss
Ulta Beauty posted second-quarter fiscal 2020 results, with the top and the bottom line declining year over year. Also, sales missed the Zacks Consensus Estimate. Results were affected by coronavirus-led store closures. However, the company started reopening stores during the quarter, with Shop Safe standards. Also, it is witnessing improved trends.
Incidentally, comparable sales or comps improved considerably as