- Ulta Beauty beat Wall Street expectations in the second quarter of 2020, despite sales slumps across the cosmetic industry as a result of the pandemic.
- According to Ulta CEO Mary Dillon, the company saw particular growth in its lash, brow, and eye categories, as consumers got creative with makeup above their masks. Ulta also saw a boom in salon services at reopened stores in the second half of the quarter.
- “Longer-term, we’re confident beauty will recover and thrive given the strong emotional connection consumers have with the category,” Dillon said on the call with investors.
- Visit Business Insider’s homepage for more stories.
As cosmetic giants like Estee Lauder and Coty falter during the pandemic, Ulta Beauty has managed to beat Wall Street expectations — in part thanks to a boom in lash, brow, and eye makeup products.
Though sales dropped 26% in the second quarter as a result of temporary