Anniversary of George Floyd's death... Tuesday marks the one-year anniversary of George Floyd's murder, which led to months of protests for racial justice across the US. Since then, American companies have pledged to spend $50B on racial equity initiatives. Yet only ~$250M has so far been spent or committed to specific initiatives, according to Creative Investment Research. Stay tuned for more coverage on whether companies have lived up to their pledges.
Buying the lip... Ulta, aka: Sephora's less flashy rival, reports earnings on Thursday. If Ulta's quarter was anything like Estée Lauder's, we can expect that skincare sales thrived, while makeup struggled (eye serum = new eyeshadow). But Walmart saw more sales of beauty products and teeth whitener last quarter. Since the CDC lifted mask mandates for fully vaxed peeps (FVPs), beauty companies are preparing for a "buy the lip" situation. Matte is already rallying.