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April 6, 2020, 10:14 a.m. EDT

Cowen survey forecasts stores to reopen in June, Ulta and Planet Fitness will recover quickly

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By Tonya Garcia

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. /zigman2/quotes/210513442/composite ULTA +0.29% and Planet Fitness Inc. /zigman2/quotes/203234487/composite PLNT -0.55% 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. /zigman2/quotes/201854387/composite M -6.88% and and Kohl's Corp. /zigman2/quotes/210414114/composite KSS -4.47% . Consumer Discretionary Select SPDR ETF /zigman2/quotes/200844504/composite XLY +0.36% has tumbled 17.4% over the last year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.48% 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

/zigman2/quotes/210513442/composite
US : U.S.: Nasdaq
$ 244.01
+0.70 +0.29%
Volume: 2.63M
May 29, 2020 4:00p
P/E Ratio
32.50
Dividend Yield
N/A
Market Cap
$13.74 billion
Rev. per Employee
$193,562
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/zigman2/quotes/203234487/composite
US : U.S.: NYSE
$ 64.63
-0.36 -0.55%
Volume: 1.87M
May 29, 2020 4:00p
P/E Ratio
54.29
Dividend Yield
N/A
Market Cap
$5.17 billion
Rev. per Employee
$544,580
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/zigman2/quotes/201854387/composite
US : U.S.: NYSE
$ 6.36
-0.47 -6.88%
Volume: 52.87M
May 29, 2020 4:00p
P/E Ratio
3.51
Dividend Yield
0.00%
Market Cap
$1.97 billion
Rev. per Employee
$197,992
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/zigman2/quotes/210414114/composite
US : U.S.: NYSE
$ 19.22
-0.90 -4.47%
Volume: 21.26M
May 29, 2020 4:00p
P/E Ratio
37.91
Dividend Yield
0.00%
Market Cap
$2.98 billion
Rev. per Employee
$156,814
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/zigman2/quotes/200844504/composite
US : U.S.: NYSE Arca
$ 124.19
+0.45 +0.36%
Volume: 6.51M
May 29, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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