November 23, 2020

Ulta Beauty CEO Says Strong Pipeline in Place for Second Half

Shares of Ulta Beauty Inc. fell in after-market trading, even though the company bested Wall Street’s projections, as comp sales growth — including e-commerce — slowed from a year ago.
Shares of Ulta Beauty ended the day’s trading session up 0.7 percent to $233.71, but fell 4.5 percent to $223.20 after the company posted second-quarter results after the markets closed.
For the three months ended July 29, net income rose 26.9 percent to $114.2 million, or $1.83 a diluted share, from $90 million, or $1.43, a year ago. Net sales rose 20.6 percent to $1.29 billion from $1.07 billion. Comparable sales for stores open at least 14 months and e-commerce sales rose 11.7 percent on top of last year’s 14.4 percent gain in the same quarter. The company said comp sales growth was driven by a 5.5 percent transaction growth and by a 6.2 percent growth in average ticket.
Wall Street was expecting EPS of $1.78 on revenues of $1.28 billion.
For the third quarter, the company said it expects net sales in the range of $1.33 billion to $1.35 billion. EPS is projected at between $1.63 to $1.68. Ulta Beauty also raised its previous fiscal 2017 guidance and now sees comparable sales growth

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