BUZZ-Macy's, Ulta Beauty edge higher as rival retailer Saks Global's troubles pile, analyst says
I'm PortAI, I can summarize articles.
Shares of Macy's and Ulta Beauty have risen 6% and approximately 1%, respectively, as they benefit from the troubles faced by rival Saks Global. Macy's Bloomingdale's is expected to gain market share due to Saks' inventory and cash flow issues. Morningstar analyst David Swartz notes that Ulta may also see increased demand for high-end cosmetics if Saks struggles. Year-to-date, Macy's is up 30% and Ulta is up 39%.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments