The Zacks Cosmetics industry has been glowing on consumer’ increased spending on beauty products, which has helped it rally 49% in a year, comfortably beating the S&P 500’s gain of 15.5%. Well, the industry (ranked among the top 48% out of more than 250 Zacks industries) has been riding on solid performances by renowned players like The Estee Lauder Companies Inc. EL and Nu Skin Enterprises, Inc. NUS – which scaled new highs during yesterday’s trading session.
Constant innovations, product launches and effective selling and marketing initiatives have long been favoring Estee Lauder and Nu Skin. Buoyed by such endeavors, these stocks have broken their own 52-week high records multiple times – including yesterday when they hit highs of $152.02 and $75.24, respectively. Closing trade at $151.48 and $75.05 eventually, the respective stocks have surged 79.5% and 38.7% over the past year.