From CNBC: 2024-05-07 16:56:56

Ulta Beauty anticipates a slowdown in beauty retail, while Oddity Tech bucks the trend, surpassing Q1 expectations. Oddity’s net income was $32.98 million, with Q3 sales expected to grow up to 31%. Ulta’s revenue surpassed expectations, while Oddity’s full-year guidance raised to $626-$635 million. Oddity believes in AI disruption of the beauty industry.

Oddity, using AI technology, saw a jump of nearly 10% in extended trading after exceeding Q1 expectations. Ulta Beauty CEO warns of cooling beauty product demand, causing a 15% stock drop, affecting e.l.f. Beauty, Estée Lauder, and Coty. Oddity CFO disputes beauty category slowdown, emphasizing online user demand and industry transformation towards high-efficacy products.



Read more at CNBC: Oddity Tech (ODD) earnings Q1 2024