2 Beauty Stocks to Buy to Make Your Portfolio More Attractive

This post was originally published on this site

As at least 150 million Americans have now had one shot of a vaccine against COVID-19, the job market is improving, and peoples’ discretionary spending is expected to continue rising in the coming months. In fact, in the 12-months through May, the personal consumption expenditures (PCE) price index rose 3.4%, its biggest gain since April 1992. With more beauty brands enhancing their digital capabilities and scaling up their operations, they are expected to see significant growth in sales. Also, as brick-and-mortar stores reopen, beauty product retailers’ continued investment in promotions and marketing should help them reclaim substantial customer foot traffic.

Changing consumer buying habits owing to growing consciousness regarding wellness, and rising demand for differentiated beauty products, should help beauty companies Ulta Beauty Inc. (ULTA) and Sally Beauty Holdings Inc . (SBH) maintain strong momentum in their sales. So, we think their stocks could be solid bets now.

Continue reading on StockNews