Markets

PRE-MARKET MOVERS: Ulta Beauty loses its appeal but Lululemon Athletica jumps higher

A look at some of the notable stock movers before the bell in New York
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Ulta Beauty Inc saw shares drop before the bell

US stocks are seen starting higher but in New York pre-market deals, a notable laggard was Ulta Beauty Inc (NASDAQ:ULTA).

The beauty store chain is down 4.82% to US$235 a share before the bell, despite its first quarter results beating analyst expectations on top and bottom lines.

The group posted a 17.4% increase in net sales for the three months year-over-year, while e-commerce sales also surged 48% year-over-year.

But the market homed in on weak second quarter outlook.

Elsewhere, Lululemon Athletica Inc (NASDAQ:LULU), the Canadian clothing group, saw shares gain 6.77% to US$112.16 after it unveiled first quarter earnings and revenue that smashed through Wall Street expectations.

The company posted EPS(earnings per share) of 55 cents on revenue of US$650mln.

Analysts had penciled in EPS of 46 cents on revenue of US$618mln.

Elsewhere, in pre-market Costco Wholesale Corp (NASDAQ:COST) shares are down 1.91% to US$194.45, despite that the group beating expectations on third quarter earnings and revenue.

Costco reported a 7% rise in same store sales and a 14% jump in e-commerce, according Thomson Reuters.

Costco said it earned US$750mln, or US$1.70 a share, in the quarter, compared with US$700mln, or US$1.59 a share, in the year-ago period, while revenue added 12% to US$31.62bn, from US$28.22bn a year ago. Analysts had expected earnings of US$1.69 a share on sales of US$31.90bn.

Sticking with retailers, Big Lots Inc (NYSE:BIG) shares eased over 9% to US$37.15 as it released a profit for second quarter that dropped from last year.

The figure for the three months came in at US$31.24 million, or US$0.74 per share, compared to US$51.51 million, or $1.15 per share, in last year's second quarter.


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