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Kylie cosmetics display at an ULTA store in New York.
Scott Mlyn | CNBC
Ulta Beauty topped Wall Street’s expectations for its holiday-quarter earnings and revenue, as shoppers continued to save room in their tighter budgets for beauty products during the celebration season.
The holiday season meant more people were buying beauty products to prepare for parties and to use as gifts. “We describe it as ‘gifting and glamming,'” CEO Dave Kimbell told CNBC.
The affordable luxuries of the beauty sector have made it a mainstay spending category, even as inflation shrinks consumer wallets and makes necessities like groceries more expensive. Kimbell said that consumer spending across income levels
Source cnbc.com
