I Thought The Target Partnership Ending Was Very Significant

We recently published 12 Latest Stocks On Jim Cramer’s Radar. Ulta Beauty, Inc. (NASDAQ:ULTA) is one of the stocks Jim Cramer recently discussed.

Ulta Beauty, Inc. (NASDAQ:ULTA) is a specialty beauty retailer whose shares have gained 21% year-to-date despite the headwinds faced by the broader cosmetics sector. Ulta Beauty, Inc. (NASDAQ:ULTA)’s shares jumped by 15% in May after the firm’s first-quarter revenue and earnings beat analyst estimates. More importantly, the firm’s comparable same-store growth of 2.9% was significantly higher than analyst estimates of 0.37%. However, Ulta Beauty, Inc. (NASDAQ:ULTA)’s shares dipped by 1% in August after it announced that it was concluding its partnership with Target. Here is what Cramer said about the announcement:

“[On Ulta and Target concluding their partnership next year] I thought that was very significant because that had been something over and over again, Brian Cornell, CEO of Target, had been telling as a great relationship. I think that Ulta has been, if you look at the chart, incredibly strong stock.

Ulta Beauty, Inc. (ULTA): I Thought The Target Partnership Ending Was Very Significant

“Ulta Beauty had been the primary way that Elf sold into Target. That’s been their number one way. So you maybe want to look at Elf. And say maybe Elf is going to be hurt a little bit. But then start covering because of Rhode, Hailey Bieber’s.”

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Disclosure: None. This article is originally published at Insider Monkey.