Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of …

Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had …

Bloomberg China’s central bank signaled it may reduce the reserve requirement ratio for banks to spur rural finance, a targeted move that would help cushion the economy as it slows. The People’s Bank of China (PBOC) said it will use monetary policy tools including the reserve ratio, and relending and rediscounting measures for rural development, according to a statement. That …