Here's Why Ulta Beauty Will Rebound From COVID-19
Ulta Beauty's (NASDAQ: ULTA) share price has rebounded nicely from its March lows, rising from under $130 on March 18 to almost $238 at Wednesday's close. However, it is still down about 6% for the year, and the company is still feeling the effects of its store closings early in the pandemic. In the second quarter of its fiscal 2021, encompassing the period that ended Aug. 1, same-store sales (comps) were down by 26.7% and adjusted operating income fell 74% from the same period last year.
Is this a temporary hiccup, or has the market changed forever, leaving Ulta Beauty behind?
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Source Fool.com
