During last month’s Spending Breakdown, I noted that in October, consumers took the mantra “treat yo self” to heart to the tune of $32 billion. While it’s hard to say what one thing inspires the trend, it’s a safe bet from my end (and personal experience) that part of what’s at play is a desire by consumers to continue to “self-improve” or “glow up” despite their circumstances. Whatever the driver, one key player in this space is Ulta Beauty.
Switching gears back to Ulta, advisors agree that it is enjoying an unstoppable season. Dana Telsey of Telsey Advisory Group writes, “For the second consecutive quarter, topline strength was driven by double-digit year-over-year comp growth across all major categories, while fragrance, bath, haircare, and skincare all posted double-digit comp increases over the LLY period.”
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