Ulta Beauty CEO sees better-than-expected recovery, but stays cautious

Ulta Beauty CEO Mary Dillon in an appearance CNBC Wednesday said she is “pleased” about the cosmetics retailer’s ongoing recovery from the economic lockdown, but the projections are still cloudly due to uncertainty.

Since the brand began reopening stores in July, demand for its products has returned, she told CNBC’s Jim Cramer.

“It took some time for stores to ramp up, but now, you know, the last month or so we’ve only been down mid-single digits,” she said in a “Mad Money” interview, adding that it’s “a lot better than we thought it would be at this point, although we’re cautious about what the second half of the year looks like.”

The pandemic created a slate of challenges for cosmetics companies as brick-and-mortar stores were shut earlier this year to stave off the spread of the novel coronavirus. The store closures depleted sales as people sheltered in place.

Ulta locations

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