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 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 ( )
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 06, 2020 10:14 ET (14:14 GMT)
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