WEBVTT - Estee Lauder and IMAX Higher; Ross Stores Boost

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, the Stock Movers report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>So there's like three stocks moving to day them all.

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<v Speaker 2>I mean, you know, it's a chored today, it's a

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<v Speaker 2>podcast and Alexis is up to the tasks stock movers,

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<v Speaker 2>what do you have?

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<v Speaker 3>It was a little challenging, but we found some good ones.

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<v Speaker 3>So stay Lauder. This stock is now up today. Investors

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<v Speaker 3>are applauding the collapse of merger talks with the Spanish

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<v Speaker 3>beauty brand Pooch. And by the way, you do pronounce

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<v Speaker 3>it pooch, even though it's spelled p u ig. Okay,

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<v Speaker 3>it's up. Buzz so want her music business?

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<v Speaker 2>He's Quig is a guy the guy that mixes records.

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<v Speaker 3>Okay, well this is different pooch pooch. Yeah, so it's

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<v Speaker 3>up eleven point six percent esday, Lauder. So this news

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<v Speaker 3>is caught Wall Street by surprise because these two sides

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<v Speaker 3>had been talking since March. They thought they were progressing

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<v Speaker 3>towards a deal. It would have created one of the

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<v Speaker 3>world's largest fragrance and skincare companies. Why did it fall apart.

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<v Speaker 3>We don't know for sure. The two sides aren't saying,

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<v Speaker 3>but Bloomberg is reporting that the makeup artist Charlotte Tilbury

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<v Speaker 3>was demanding a certain compensation in this deal. That was

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<v Speaker 3>one of the sticking points. Tilbury actually sold her brand

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<v Speaker 3>to Pooch back in twenty twenty, but still has a

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<v Speaker 3>you know, a bit of a stake in the company. So,

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<v Speaker 3>now what happens to es Day Lauder, Well, the CEO

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<v Speaker 3>there is left was still trying to revive the brand.

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<v Speaker 3>It's reported three years of annual sales drops, so there

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<v Speaker 3>are challenges ahead. But a lot of people on Wall

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<v Speaker 3>Street didn't quite understand this deal. They didn't know how

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<v Speaker 3>Esday Lauder would integrate, you know, Pooch's products.

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<v Speaker 2>I mean, where do they fit in in you know,

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<v Speaker 2>like across the street at Bloomingdale's. Where does Esday Lauder

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<v Speaker 2>fit in When I'm looking at the future as hydroplump

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<v Speaker 2>tended lip bomb thirty eight dollars.

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<v Speaker 3>And that's one of the challenges, you know, is trying

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<v Speaker 3>to lure the younger skincare product folks, because that's really

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<v Speaker 3>what they're after, right Esta Lauder. Yeah, I don't feel like,

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<v Speaker 3>I see them in there, and I don't know. Don't

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<v Speaker 3>start telling me.

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<v Speaker 1>A lot of their focus to online if I'm not mistaken, right,

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<v Speaker 1>I mean, I think the Amazon and the TikTok shops.

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<v Speaker 3>I mean they're selling lower price items to remember my

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<v Speaker 3>my like for instance. Really, honestly, I think of my

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<v Speaker 3>grandmother when I think of Esta Lauder and her scent.

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<v Speaker 3>I mean, that's so, that's their challenge.

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<v Speaker 2>That's the smartest thing I've heard.

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<v Speaker 3>Next, all right, Imax soaring fourteen percent. The Wall Street

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<v Speaker 3>Journal has a story saying that this is the large

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<v Speaker 3>screen theater company. It's exploring a sale. It's already approached

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<v Speaker 3>some entertainment companies for as potential buyers get this. The

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<v Speaker 3>stock is up forty percent since last summer, but it

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<v Speaker 3>is down seven percent so far this year. They've got

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<v Speaker 3>a market cap of about one point eight billion dollars.

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<v Speaker 3>I didn't realize this, but premium screens, including IMAX, accounted

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<v Speaker 3>for more than five percent of domestic box office sales

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<v Speaker 3>last year. It's taking a bigger share of the box ops.

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<v Speaker 3>I have to tell you, the last movie I saw

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<v Speaker 3>was an IMAX, and I do not go to the

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<v Speaker 3>very often.

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<v Speaker 2>What is the sphere in Las Vegas the new.

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<v Speaker 3>I'm that's the question.

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<v Speaker 1>That is.

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<v Speaker 2>I don't know. I mean Sweeny's more we're Sweeney. I

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<v Speaker 2>don't know.

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<v Speaker 1>He's got to be golfing.

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<v Speaker 3>I don't think he's at an IMAX, but you never know.

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<v Speaker 2>He's probably on the vespa, you know, yes, morning beverage

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<v Speaker 2>and listening to us on his Bloomberg Listen years ago

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<v Speaker 2>with one radio stage hanging on everywhere.

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<v Speaker 3>I remember those days. I still have one, you still

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<v Speaker 3>have them. I actually do think it works.

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<v Speaker 2>Mister Bloomberg has it. He told me another day. That's

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<v Speaker 2>how he listens.

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<v Speaker 1>Do you know what?

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<v Speaker 2>You know what mister Bloomberg said to me. I was

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<v Speaker 2>listening to you this morning time, and I can't remember

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<v Speaker 2>things said.

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<v Speaker 1>I said, thank you.

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<v Speaker 3>Praise one more here for mister. Ross Stores up five percent.

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<v Speaker 3>This stock is up twenty and a half percent so

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<v Speaker 3>far this year, raising its sales and profit guidance after

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<v Speaker 3>first quarter results beat the street, aided by get this

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<v Speaker 3>strong customer traffic among younger shoppers aged eighteen to twenty four.

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<v Speaker 3>What is Ross Stores doing right? This is the off

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<v Speaker 3>price retailer meeting. It sells brand names, does sign merchandise

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<v Speaker 3>for less. It is said that same store sales growth

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<v Speaker 3>was the best in the company's history of seventeen percent

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<v Speaker 3>last quarter, and Ross's CEO on the call said the

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<v Speaker 3>company is outperforming virtually every other retailer that they can

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<v Speaker 3>track when it comes to younger customers.

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<v Speaker 1>Wow. The Stock Movers Report from Bloomberg Radio. Check back

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