Retail’s Beauty Mark with Ulta & the Media-Scape with AMC 6/8/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 8 June 2022

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As most retailers struggle with a difficult quarter, cosmetics might be a bright spot. Alongside Elf Cosmetics, Ulta Beauty reported upbeat first quarter results despite rising inflation; Ulta CEO David Kimbell discusses the company’s year over year revenue growth and the relative strengths of beauty consumers and social media beauty influencers alike. As streaming stocks like Netflix have struggled, AMC CEO Matt Blank suggests the answer to media’s momentary woes might be linear. Plus, a high profile team is making a play for the Denver Broncos, and the FDA is giving Novavax a big vote of confidence. In this episode: David Kimbell, @UltaBeauty Matt Blank, @AMC_Networks Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi there, I'm C. NBC producer Cameron Costa.
0:07.0	Today on Squawk Pod retail's beauty mark,
0:11.0	inflation, inventory, and looking good with CEO of cosmetic retailer
0:15.6	Ulta, David Kimball. The strength of the category will continue. There will be
0:20.0	innovation, there will be new ways, there always have been through the history of beauty
0:24.0	and people expressing themselves to the world
0:26.4	uh... alta has continued to evolve
0:28.4	why consumers are willing to shell out to look good
0:32.0	but it's worth it, believe me, for all of us. And it's been a rough year for
0:36.6	streamers like Netflix. We're getting the lay of the Media Land with CEO of AMC, Matt Blank.
0:43.0	I think the belief that there was unlimited growth
0:45.8	in these spaces was just unrealistic.
0:48.6	Those stories plus vaccine successes
0:51.3	and a milestone on a Colorado field.
0:54.4	I think that Melody becomes the first black minority owner of an NFL team.
0:59.8	It's Wednesday, June 8, 2022, and Squawk Pod begins right now.
1:04.8	Stand back you by in three, two, one, fuel break.
1:09.4	Good morning, everybody.
1:10.3	Welcome to Squawk Box here on CMBC.
1:12.1	We are live from the NASDAQ market site in
1:14.2	time square i'm beky quick along with joe kernan and and andrew ros sorkin
	...

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