Ulta Beauty, Inc. (ULTA) reported its first quarter earnings report on Tuesday, June 2. The beauty retailer’s shares rose as much as 7% following the report’s release.

Ulta reported quarterly revenue of $3.16 billion, an 11% increase from $2.85 billion reported in the same quarter last year. This exceeded analysts’ estimates of $3.10 billion in revenue.

“Fiscal 2026 is off to a strong start driven by broad-based growth across all channels and major categories,” said Ulta Beauty CEO, Kecia Steelman. “Our results demonstrate the strengths of our model, focused execution of our talented associates, and the effectiveness of our strategy in an uncertain macroeconomic landscape.”

The company reported net income of $340.47 million or $7.74 per adjusted share for the quarter. This was an improvement from net income of $305.05 million or $6.70 per adjusted share during the same quarter last year.

The company’s strong quarterly performance was attributable, in part, to a 5.3% increase in comparable sales. The company’s increased comparable sales were primarily driven by a 3.7% increase in the average ticket and a 1.6% increase in transactions. During the first quarter, the company repurchased 958,323 shares of its common stock at a cost of $555.0 million. For fiscal 2026, the company expects net sales to increase between 6% and 7% with comparable sales expected to grow 2.5% to 3.5%.

Ulta Beauty, Inc. (ULTA) shares ended at $467.07, down 8% for the week.

Macy’s Announces Earnings

Macy’s, Inc. (M) announced its first quarter earnings on Wednesday, June 3. The department store company reported increased quarterly sales, resulting in its shares jumping approximately 4% after the release of the report.

The company reported quarterly net sales of $4.68 billion. This was up from $4.60 billion at the same time last year and surpassed analysts' expectations of $4.61 billion.

“We are off to a strong start to the year, exceeding expectations for the fifth consecutive quarter as our Bold New Chapter strategy continues to build momentum,” said Macy’s CEO, Tony Spring. “With the power of our multi-brand, multi-category, multi-generational portfolio, we are confident in our path to sustainable, profitable growth. And we are excited to continue our year of celebrations at Macy’s, including the 50th anniversary of Macy’s Fourth of July Fireworks, as we mark the nation’s 250th.”

For the first quarter, Macy’s reported net income of $63 million or $0.23 per diluted share. This was up from $38 million or $0.13 per diluted share reported at this time last year.

The company experienced a 3% increase in comparable sales for the first quarter. The Macy’s namesake division reported a 1.6% rise in comparable sales while its Bloomingdale’s segment saw a 10.2% growth in comparable sales. Credit card net revenues increased $18 million to $172 million while Macy’s Media Network revenue decreased $2 million to $38 million, reflecting the timing of advertisement spent year-over-year. The company revised its fiscal 2026 guidance and anticipates net sales to be between $21.5 billion and $21.75 billion with comparable sales increasing between 0.5% and 1.2%. 

Macy’s, Inc. (M) shares ended the week at $22.16, up 1% for the week.

Five Below Quarterly Earnings

Five Below, Inc. (FIVE) announced its first quarter earnings on Wednesday, June 3. The Philadelphia-based discount retailer’s shares fell more than 8% despite the company reporting better-than-expected revenue.

The retailer reported quarterly net sales of $1.29 billion. This was up 33% from $970.53 million at the same time last year and exceeded analysts' expectations of $1.23 billion.

“We are thrilled with our outstanding first quarter performance, which is a testament to the team’s execution of our customer-centric strategy,” said Five Below CEO, Winnie Park. “Our teams have demonstrated focus, discipline and agility in navigating macroeconomic uncertainty and we are committed to delivering amazing product at great value. With a solid foundation in place, we are well positioned to deliver durable top- and bottom-line growth with our unique brand value proposition as THE destination for the KID and the KID in all of us.”

For the first quarter, Five Below reported net income of $123.06 million or $2.21 per diluted share. This was up from $41.15 million or $0.75 per diluted share reported at this time last year.

The company’s comparable sales increased 22.7% in the first quarter. Operating income was $154.2 million compared to $50.8 million at the same time last year. The company opened 49 net new stores for a total of 1,970 in 46 states. For the second quarter of fiscal 2026, the company anticipates net sales to be between $1.18 billion and $1.20 billion with earnings per diluted share between $1.15 and $1.27. For the full year of fiscal 2026, net sales are expected to be in the range of $5.40 billion and $5.48 billion.

Five Below, Inc. (FIVE) shares ended the week at $190.46, down 16% for the week.

The Dow started the week 6/1 at 51,161 and closed at 50,867 on 6/5. The S&P 500 started the week at 7,582 and closed at 7,384. The NASDAQ started the week at 26,953 and closed at 25,709.

U.S. Treasury yields rose early in the week as investors waited for the latest job hiring numbers from the private sector. Yields continued to climb toward the end of the week after jobless claims rose higher than expected.

On Wednesday, ADP reported that private sector jobs increased more than expected for May. The payroll processing company detailed that private sector businesses added 122,000 jobs in May, above Wall Street’s expectations of an increase of 110,000 jobs. ADP also revised down the payroll figures for April by 4,000 to an addition of 105,000 jobs.

“Hiring was more broad-based in May than we have seen in the last few years,” said chief economist at ADP, Nela Richardson. “The labor market continues to show sustained momentum going into the summer hiring season.”

The benchmark 10-year Treasury note yield opened the week of June 1 at 4.44% and traded as high as 4.51% on Wednesday. The 30-year Treasury bond opened the week at 4.97% and traded as high as 5.01% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment reached 225,000 for the week ending May 30. This was up 13,000 from the prior week and above analysts’ expectations of 211,000. Continuing unemployment claims decreased by 8,000 to 1.78 million.

"The big picture remains that the trend in both initial and continuing claims still is very subdued," said senior U.S. economist at Pantheon Macroeconomics, Oliver Allen. "It would be unwise, however, to conclude that all is fine and well with the labor market simply because claims are low. Low fire, low hire remains an apt description of labor market conditions, and only around one of four of those unemployed make a claim."

The 10-year Treasury note yield finished the week of 6/1 at 4.52%, while the 30-year Treasury note yield finished the week at 5.00%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, June 4. The survey showed mortgage rates decreasing slightly after multiple weeks of increases.

This week, the 30-year fixed mortgage rate averaged 6.48%, down from last week’s average of 6.53%. Last year at this time, the 30-year fixed mortgage rate averaged 6.85%.

The 15-year fixed mortgage rate averaged 5.79% this week, down from last week’s average of 5.87%. During the same week last year, the 15-year fixed mortgage rate averaged 5.99%.

“The 30-year fixed-rate mortgage decreased to 6.48% this week,” said chief economist at Freddie Mac, Sam Khater. “With mortgage rates in the mid-6% range and income growth outpacing home price growth, housing affordability is marginally improving.”

Based on published national averages, the savings rate was 0.38% as of 5/18. The one-year CD averaged 1.55%.