Latest news with #Rihanna
Fashion Network
11 hours ago
- Business
- Fashion Network
Ulta Beauty raises annual profit forecast, posts upbeat quarter on resilient demand
Ulta Beauty raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up about 8% in trading after the bell. Cosmetics retailer saw uptick in sales across its stores, especially from younger shoppers willing to spend on trendy and affordable brands such as Elf Beauty. Ulta Beauty has strengthened customer traffic by introducing celebrity-owned brands, such as Rihanna 's Fenty Beauty, along with investments in marketing and digital channels. The company expects annual profit to be in the range of $22.65 to $23.20 per share, compared with a prior forecast of $22.50 to $22.90 per share. It posted quarterly sales of $2.85 billion, compared with the analysts' estimate of $2.79 billion, as per data compiled by LSEG. The company's comparable sales in the quarter ended May 3 rose 2.9% compared to a year ago, driven by a 2.3% increase in average ticket and a 0.6% rise in transactions. It earned quarterly adjusted profit of $6.70 per share, topping the estimate of $5.81 per share. Budget-cosmetic brand Elf Beauty posted an upbeat quarter on resilient demand, while luxury firms such as Estée Lauder 's business remained pressured due to tariff uncertainty. The Trump administration's unpredictable tariff shifts have disrupted businesses and shaken consumers worldwide, who are now bracing for an economic recession. Ulta Beauty expects comparable sales for fiscal 2025 to be in the range of flat to up 1.5%, compared with the prior forecast of flat to up 1%. "The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve," said CEO Kecia Steelman. Lower inventory losses or damages helped Ulta Beauty in countering higher store and supply chain-related costs. Its quarterly gross profit increased 4.2% to $1.11 billion compared with a year ago.
Gizmodo
13 hours ago
- Business
- Gizmodo
Labubu's Viral Rise Is Getting the Fun Sucked Out by Resellers
The charm of Pop Mart's Labubu, those toothy, big-eyed, ugly-cute creatures, has swept the world with cuteness aggression for the must-have plush accessory. Artist Kasing Lung's enchanting eleven furry fiends inspired by Nordic folklore have captured the hearts of many, including celebrity fans like Lisa, Rihanna, and most recently Madonna. However, things are taking a turn with the rising threat of resellers looking to take the fun out of the Labubu shopping experience. As with any coveted collectible, there's always going to be a resell market. But recently, so many brawls have broken out at Pop Mart locations that the phenomenon has made international news. In the UK, the figures were temporarily pulled from shelves, a direct response to viral videos of fights between flippers and enthusiastic customers, not to mention employees just trying to doing their jobs. All 16 locations in the UK currently do not have the bag charms available as the company assesses how to navigate the situation, explaining to the BBC the pause is intended to 'prevent any potential safety issues.' Similarly in the U.S., the situation is also getting out of hand, and you don't even have to leave your house to feel the frustration. It's already been bad online with flippers setting their bots onto Pop Mart's webpage and app. I can attest to the horrible digital experience; when I attempt to nab some online for my collection, I get crash notifications as well as getting my access limited due to button mashing too much to try to beat the bots while trying the Pop Now! gamified option to buy. Truly, I am over getting this notification when I am a real human person fighting for my life on these Labubu streets: But in-person shopping is also a huge pain in the U.S., and one that's also getting dangerous as resellers prey on collection drop events, turning them into chaotic un-fun experiences. Tense encounters in line, with scuffles breaking out during the recent Big Into Energy release, made it clear that the hostile vibes radiating off the resellers were becoming a big issue. As one Pop Mart employee from the Century City location in Los Angeles told us, 'People were getting into fights in line,' highlighting the safety concerns employees have experienced. They also shared that for the moment, their Labubu inventory would only be available for purchase online for pickup. They didn't know when drops would become available in advance. We get it, but that approach still leaves customers to fight resellers in the digital realm. Pop Mart is currently working to make the shopping experience for collectors better—and it has other concerns, too. The Labubu scarcity has not only have spawned a shifty flipper market, but also a huge fakes industry. 'Lafufus' (faux Labubus) further confuse shoppers, sometimes tricking them into buying fakes for at least double the price of a real one. Pro-tip: if it has more or less than nine teeth, it's a fake! But Lafufu makers are steadily getting better at fooling unsuspecting consumers. In other words, Pop Mart may be enjoying its success, but it's also aware of the challenges that have accompanied the sudden fame of their products. Speaking to the BBC, the company explained that 'Labubu will return to physical stores in June, and we are currently working on a new release mechanism that is better structured and more equitable for everyone involved.' I'm surely not the only one ready for the experience to improve. Getting into and participating in the new collector community Pop Mart has cultivated needs to get back to having a fun and delightful atmosphere. When I was talking to the employee at the location I visited, I had so much fun learning about the lore of not just Labubu but other characters too. Granted, I didn't get to walk away with the Labubu plush I wanted ,as I was not one of the lucky ones to manage to be there during a random online drop—but I did nab one of the acrylic figures from the flocked Lazy Yoga series. That Pop Mart line, as well as the mecha armor Kow Yokoyama are two that I've had more luck finding in store or at the Robo Mart locations. As collectors and fans of the Labubu fantasy lore, I'm excited to be able to better take part in a more positive and enjoyable experience when getting online to buy the latest figure. Like most fans, I still don't have a Big Into Energy Labubu. I've tried all three ways available to try and get one: checking online inventory (always gone), Pop Now! unboxings (button-mash till you get kicked out, yet somehow resellers don't), or waiting and missing location's individual social media stories notifying fans they're online for pick-up in store. A shopping experience separated from the angry frustration of battling it out with resellers is how it should be. Hopefully Labubu fans fans and employees can eventually get back to enjoying the community safely—without the stress of competition or, you know, the risk of bodily harm.
CNBC
13 hours ago
- Business
- CNBC
Ulta Beauty raises annual profit forecast, posts upbeat quarter on resilient demand
Ulta Beauty raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up about 8% in trading after the bell. Cosmetics retailer saw uptick in sales across its stores, especially from younger shoppers willing to spend on trendy and affordable brands such as Elf Beauty. Ulta Beauty has strengthened customer traffic by introducing celebrity-owned brands, such as Rihanna's Fenty Beauty, along with investments in marketing and digital channels. The company expects annual profit to be in the range of $22.65 to $23.20 per share, compared with a prior forecast of $22.50 to $22.90 per share. It posted quarterly sales of $2.85 billion, compared with the analysts' estimate of $2.79 billion, as per data compiled by LSEG. The company's comparable sales in the quarter ended May 3 rose 2.9% compared to a year ago, driven by a 2.3% increase in average ticket and a 0.6% rise in transactions. It earned quarterly adjusted profit of $6.70 per share, topping the estimate of $5.81 per share. Budget-cosmetic brand Elf Beauty posted an upbeat quarter on resilient demand, while luxury firms such as Estee Lauder's business remained pressured due to tariff uncertainty. The Trump administration's unpredictable tariff shifts have disrupted businesses and shaken consumers worldwide, who are now bracing for an economic recession. Ulta Beauty expects comparable sales for fiscal 2025 to be in the range of flat to up 1.5%, compared with the prior forecast of flat to up 1%. "The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve," said CEO Kecia Steelman. Lower inventory losses or damages helped Ulta Beauty in countering higher store and supply chain-related costs. Its quarterly gross profit increased 4.2% to $1.11 billion compared with a year ago.
Fashion Network
14 hours ago
- Business
- Fashion Network
Ulta Beauty raises annual profit forecast, posts upbeat quarter on resilient demand
Ulta Beauty raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up about 8% in trading after the bell. Cosmetics retailer saw uptick in sales across its stores, especially from younger shoppers willing to spend on trendy and affordable brands such as Elf Beauty. Ulta Beauty has strengthened customer traffic by introducing celebrity-owned brands, such as Rihanna 's Fenty Beauty, along with investments in marketing and digital channels. The company expects annual profit to be in the range of $22.65 to $23.20 per share, compared with a prior forecast of $22.50 to $22.90 per share. It posted quarterly sales of $2.85 billion, compared with the analysts' estimate of $2.79 billion, as per data compiled by LSEG. The company's comparable sales in the quarter ended May 3 rose 2.9% compared to a year ago, driven by a 2.3% increase in average ticket and a 0.6% rise in transactions. It earned quarterly adjusted profit of $6.70 per share, topping the estimate of $5.81 per share. Budget-cosmetic brand Elf Beauty posted an upbeat quarter on resilient demand, while luxury firms such as Estée Lauder 's business remained pressured due to tariff uncertainty. The Trump administration's unpredictable tariff shifts have disrupted businesses and shaken consumers worldwide, who are now bracing for an economic recession. Ulta Beauty expects comparable sales for fiscal 2025 to be in the range of flat to up 1.5%, compared with the prior forecast of flat to up 1%. "The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve," said CEO Kecia Steelman. Lower inventory losses or damages helped Ulta Beauty in countering higher store and supply chain-related costs. Its quarterly gross profit increased 4.2% to $1.11 billion compared with a year ago.
Fashion Network
14 hours ago
- Business
- Fashion Network
Ulta Beauty raises annual profit forecast, posts upbeat quarter on resilient demand
Ulta Beauty raised its annual profit forecast after beating quarterly results on Thursday, as lower inventory losses as well as new launches such as Milk Makeup and K-Beauty skincare brands helped drive demand at its stores. Shares of the company were up about 8% in trading after the bell. Cosmetics retailer saw uptick in sales across its stores, especially from younger shoppers willing to spend on trendy and affordable brands such as Elf Beauty. Ulta Beauty has strengthened customer traffic by introducing celebrity-owned brands, such as Rihanna 's Fenty Beauty, along with investments in marketing and digital channels. The company expects annual profit to be in the range of $22.65 to $23.20 per share, compared with a prior forecast of $22.50 to $22.90 per share. It posted quarterly sales of $2.85 billion, compared with the analysts' estimate of $2.79 billion, as per data compiled by LSEG. The company's comparable sales in the quarter ended May 3 rose 2.9% compared to a year ago, driven by a 2.3% increase in average ticket and a 0.6% rise in transactions. It earned quarterly adjusted profit of $6.70 per share, topping the estimate of $5.81 per share. Budget-cosmetic brand Elf Beauty posted an upbeat quarter on resilient demand, while luxury firms such as Estée Lauder 's business remained pressured due to tariff uncertainty. The Trump administration's unpredictable tariff shifts have disrupted businesses and shaken consumers worldwide, who are now bracing for an economic recession. Ulta Beauty expects comparable sales for fiscal 2025 to be in the range of flat to up 1.5%, compared with the prior forecast of flat to up 1%. "The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve," said CEO Kecia Steelman. Lower inventory losses or damages helped Ulta Beauty in countering higher store and supply chain-related costs. Its quarterly gross profit increased 4.2% to $1.11 billion compared with a year ago.
