Canaccord analyst Susan Anderson recently met with Ulta Beauty management and learned more details about how Ulta plans its store layouts, merchandising decisions, the loyalty program, measures to reduce shrink, and recent trends by category. Overall, we left our store visit incrementally more positive on Ulta as consumer demand for beauty continues to be robust, Ulta continues to offer hot and in-demand products to drive traffic, and we believe the retailer can win in any environment due to its mix of products across all price ranges. Canaccord maintains its Buy rating and $606 price target on Ulta Beauty shares.
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Published first on TheFly
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