Three-quarters of investors who responded to a Cowen survey said they
think stores will reopen in June. Once stores are back in operation,
analysts forecast Ulta Beauty Inc. ulta and Planet Fitness Inc. plnt
will recover quickly. “Ulta’s loyal customer base, 90% off-mall
presence, and virtual try-on capabilities through augmented reality
could collectively drive continued market share gains as consumers
reorient shopping patterns through a socially distant lens,” analysts
wrote. Cowen touts Planet Fitness’ “lean” business model and says the
company will realize revenue when gyms reopen. Moreover, it will gain
market share from financially struggling fitness chains that are at
risk. Cowen analysts are cautious about the department store sector,
including Macy’s Inc. m and and Kohl’s Corp. kss. Consumer Discretionary Select SPDR ETF xly has tumbled 17.4% over the last year while the S&P 500 index spx has fallen 10% for the period. Read: Macy’s, Kohl’s have about 5 months of cash available putting them at risk of extended closures, analysts say
https://www.marketwatch.com/story/cowen-survey-forecasts-stores-to-reopen-in-june-ulta-and-planet-fitness-will-recover-quickly-2020-04-06
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.