ULTA - Ulta Beauty Faces Headwinds From Slowing Trends Notes Analyst | Benzinga
Goldman Sachs analyst Kate McShane reiterated a Neutral rating on the shares of Ulta Beauty Inc (NASDAQ:ULTA) and lowered the price target from $607 to $605.
The analyst has looked into quarter-to-date trends for ULTA in y/y growth for observed sales, observed transactions, and average transaction value.
According to the analyst, the observed sales were relatively flat for the week ending March 24, compared to -3.0% in the prior week.
The quarter-to-date average is about +1.1%, which is at the lower end of the company’s 1H guide to +low single digit, noted the analyst.
Observed transactions also improved sequentially in the week ending March 24 at -0.8%, while average transaction value remained relatively consistent at +0.8%, said the analyst.
Regarding data for eyes, facial, lipstick, and nail polish, sales for the mass segment within these categories decreased by -2.7% in Feb ’24, relatively in-line with -2.6% in ...