Oddity Tech says it's bucking the beauty slowdown Ulta warned about
Publishing timestamp: 2024-05-07 16:56:56
Summary
Oddity Tech, the parent company of Il Makiage and Spoiled Child brands, disagrees with Ulta Beauty CEO's comments about a cooling demand in the beauty industry. The company, which uses AI to develop products, reported strong first-quarter results, surpassing Wall Street's expectations and raising its full-year guidance. Despite Ulta's concerns, Oddity Tech believes that the industry is transforming with consumers moving online and towards high-efficacy products.
Sentiment: MIXED
Tickers: UNDEFINED, EL, ELF, ULTA, COTY,
Keywords: estee lauder companies inc, coty inc, ulta beauty inc, retail industry, business, breaking news: business, business news, earnings, oddity tech ltd, elf beauty inc, breaking news: earnings,
Source: https://www.cnbc.com/2024/05/07/oddity-tech-odd-earnings-q1-2024.html