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BUZZ-Ulta Beauty rises after upbeat holiday-quarter results

Reuters
Mar 14
BUZZ-Ulta Beauty rises after upbeat holiday-quarter results

** Shares of cosmetics seller Ulta Beauty ULTA.O up ~7% at $337.12

** Co reported Q4 sales, profit above estimates after market close on Thursday, on a holiday season boost to demand

** However, Ulta forecast annual sales and profit below expectations

** BMO analyst Simeon Siegel believes ULTA offers a compelling business in an attractive sector but remains sidelined, awaiting visibility on competition and distribution

** Shares of Estee Lauder EL.N also up ~2%

** It appears that beauty shares are getting a bump from Ulta's strong results - Emarketer analyst Sky Canaves

** Adds that "EL share price has come down so much this year that we could be seeing some buying on the dip as well"

** In the last 12 months, ULTA and EL fell 44.4% and 57.6%, respectively, as of last close

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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