Amazon has a track record of disrupting other industries, but CNBC’s Jim Cramer thinks the e-commerce giant shuold be more worried about a top dog in the world of beauty.
That company is Ulta Beauty, the cosmetics and skincare store chain that has a $20.5 billion market capitalization.
“I think Amazon should be more concerned than Ulta,” the “Mad Money” host said.
Shares of Ulta, along with Sally Beauty, dropped last month when the online marketplace announced its own beauty concept for licensed professionals. Because of the news, one Colorado viewer phoned Cramer to ask whether he should sell his stake in Ulta.
Cramer thinks Ulta is in good shape.
“Because [CEO] Mary Dillon runs a tight ship, [is] still putting up stores and [has] the best loyalty program in the world,” he said. “So look out Amazon, Ulta is the real deal.”
Chris Rank | Bloomberg | Getty Images
The market “threw us a bit of a curve ball” Tuesday as investors avoided reliable defensive stocks even after Wall…