Bad poshture... Poshmark shares sank 20% on Friday, after the app-based marketplace unboxed its first earnings as a public company. Like Etsy, Posh has been riding the pandemic e-thrifting surge: it sells everything from $8 Aerie tanks to $500 Coach bags (and takes a cut). Future-focused investors weren't feeling Posh's weak forecast for this quarter. Tighter Covid restrictions are still in place in some states, which could limit Posh's sales (outdoor dining = one jacket).
Blend it out... On Thursday, Ulta reported earnings and announced the exit of its CEO Mary Dillon — then the stock dropped 8%. As Zoom face replaced face-to-face, makeup sales plunged. Ulta's 2020 sales shrank 17%, slightly less than the overall US beauty industry. The makeup chain made up for some of those losses with skin care (moisturizer = the new highlighter). But one section of Ulta's earnings reflects the reopening economy: sales from makeup grew from January to February this year, while skincare made up less of total sales.