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Ulta Beauty Lifts FY22 Outlook

‘Samaritan’ Review: Taking Out the Trash

In this action film from Julius Avery, Sylvester Stallone stars as a sanitation worker who may be a superhero.

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By Amy Nicholson

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‘Seoul Vibe’ Review: Grinding Gears

Set in 1988, this Korean action comedy follows a blithe driving team that goes undercover with holdovers from the old military leadership.

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By Nicolas Rapold

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IKEA Recalls Metallisk Espresso Makers Due To Burn And Injury Hazards

IKEA has recalled Metallisk espresso makers due to burn and injury hazards.

The company has recalled about 2,100 espresso makers sold in the U.S., in addition to about 5,200 sold in Canada and about 200 sold in Mexico. The recalled espresso makers with the stainless-steel safety valve can burst and expel hot contents, posing burn or other injury hazards to consumers.

The company said it has received 16 reports worldwide of the espresso makers bursting, including four reports of burns, scald injuries and hearing damage. However, no injuries have been reported in the U.S.

The recall involves IKEA Metallisk Espresso Makers with a stainless-steel safety valve for cooktop 0.4 1. The recalled espresso makers bear a date stamp between 2040 and 2204.

The company has asked customers to immediately stop using the recalled espresso makers. Units bearing date stamps 2040 through 2204 can be returned for a full refund to any Ikea store location or by mail using a pre-paid label.

The recalled products were sold at IKEA stores nationwide and online at IKEA.com from September 2020 through January 2022 for about $20.

Gold Futures Settle Higher For 3rd Straight Session

Gold futures settled higher on Thursday, extending gains to a third straight day, as the dollar stayed weak and bond yields dropped ahead of Fed Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium on Friday.

Powell is widely expected to reiterate the central bank’s hawkish stance, given the expectations that inflation in the U.S. will be persistent and it will take time to contain it.

The dollar index, which was fairly deeply down in negative territory during the Asian session, recovered as the day progressed but still remained below the flat line. At 108.48, the index was down nearly 0.2% a little while ago.

Gold futures for December ended higher by $9.90 or about 0.6% at $1,771.40 an ounce.

Silver futures for September ended up $0.213 at $19.120 an ounce, while Copper futures for September settled at $3.6990 per pound, up $0.0445 from the previous close.

Data from the Labor Department showed the U.S. economy contracted an annualized 0.6% in the second quarter, following a 1.6% drop a quarter earlier.

Personal consumption expenditure increased 1.5% in the second quarter, after rising 1.8% in the previous quarter. Year-on-year, personal consumption expenditure rose 1.9% in the second quarter.

Meanwhile, data from the Labor Department showed initial jobless claims dropped to 243,000 in the week ended August 20th, from a revised 245,000 claims a week earlier.

Huffy Recalls Ride-on Toys Due To Fall And Injury Hazards

Huffy Corporation has recalled about 28,500 ride-on toys due to fall and injury hazards.

According to Consumer Product Safety Commission, the company has recalled Blue’s Clues Foot to Floor toys as the ride-on toy can tip forward when a young child is riding it, posing fall and injury hazards to children.

The company said it has received 19 reports of children falling forward while they were riding the toy, resulting in 18 facial injuries.

The recalled product involves Blue’s Clues Foot to Floor Ride-on Toys. The ride-on toy is made with plush light blue fabric with spots and is in the shape of the cartoon dog character Blue’s Clues. The ride-on toy has four wheels and has handlebars tucked behind the dog’s ears. The model number is 55061 with the date codes of 15221,15921, 19921, 21021, 22321, 23721, 26821, 28821 or 29421.

The recalled product were exclusively sold at Walmart stores nationwide and online from August 2021 through July 2022 for about $40.

Gap Inc. Q2 Earnings Summary

Below are the earnings highlights for Gap Inc. (GPS):

Earnings: -$49 million in Q2 vs. $258 million in the same period last year.
EPS: -$0.13 in Q2 vs. $0.67 in the same period last year.
Excluding items, Gap Inc. reported adjusted earnings of $30M or $0.08 per share for the period.

Analysts projected -$0.05 per share
Revenue: $3.86 billion in Q2 vs. $4.21 billion in the same period last year.

Ulta Beauty Lifts FY22 Outlook

While reporting its results for the second quarter on Thursday, Ulta Beauty, Inc. (ULTA) lifted its outlook for the full year 2022.

Looking forward, the company now expects earnings of $20.70 to $21.20 per share and revenues of $9.65 billion to $9.75 billion.

Previously, the company expected earnings of $19.20 to $20.10 per share and revenues of $9.35 billion to $9.55 billion.

Analysts polled by Thomson Reuters currently expect revenues of $9.53 billion for the year. Analysts’ estimates typically exclude one-time items.

ULTA closed Thursday’s trading at $419.25, up $7.23 or 1.75%, on the Nasdaq. The stock further gained $11.75 or 2.80% in the after-hours trading.