Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Ulta's earnings report showed that the company is "operating a better balanced business" due to a strong inventory control, improvements in loyalty programs, and a double-digit comp against last year's July clearance event, the analyst added. Perhaps more important, Ulta delivered leverage at store and corp levels which is seen as an "important signal the cost model is starting to bend, allowing greater pass through."
Looking forward to the third quarter, the beauty retailer's outlook reflects a "pull forward of store growth" and related pre-opening expenses along with the roll-out of prestige boutique locations and accelerating labor rates, the analyst continued. But once the company exits the third quarter the leverage in the business model will "meaningfully improve" even on top of the already "impressive" 9 to 11 percent comp growth guidance.Bottom line, investor concerns and worries are "overdone" and the analyst is "incrementally more confident" in the company's growth prospects.
At last check, shares of Ulta were down 10.11 percent at $210.08.
Related Links:Fearing Soft Sector Trends, Ulta Beauty Shares DowngradedUlta Shares Still Pricey After The Pullback?Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!