Buying This Stock Could Be a Genius Move
At a time when many retailers are struggling with growth hangovers from the pandemic, Ulta Beauty (NASDAQ: ULTA) is moving in the opposite direction. The beauty products specialist recently boosted its 2022 revenue outlook to nearly $10 billion, in fact. And while profit margins are falling at retailers like Walmart, at Ulta, they're rising.
A deeper look into the business trends reveals a few more reasons to like this stock today. Let's take a look at a few of the most compelling ones.
The first half of 2022 has been a beautiful period for the business. Sales were up 16% at existing locations, and that's on top of a 61% spike in the prior-year period. Those gains have been balanced between higher customer traffic (up 9%) and rising average spending (up 6%).
Source Fool.com
