LRLCF - People are going out again - these stocks are soaring
Coty (COTY +5.3%), Estee Lauder (EL +4.0%), L'Oreal S.A. (OTCPK:LRLCF +5.3%), Beauty Health Company (SKIN +4.2%), Inter Parfums (IPAR +3.8%), Honest Company (HNST +5.1%) and Revlon (REV +7.4%) knocked out big gains on Friday after both e.l.f. Beauty (NYSE:ELF +5.7%) and Ulta Beauty (ULTA +10.5%) reported strong earnings this week. ELF reported sales growth of 13% on strong makeup consumption trends. The retailer also said it saw elasticity with prices increases not crimping demand. While ELF lapped the stimulus boost to consumer spending from a year ago, a quarter with more social events and less mask wearing led to makeup sales being strong. Ulta Beauty (ULTA) saw double-digit comparable sales across all major categories to boost confidence that the cosmetics category could see momentum continue to build in the summer months. Sally Beauty (SBH +3.0%) followed its cosmetics peers higher on Friday as well. Read a breakdown on ELF's earnings
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People are going out again - these stocks are soaring