Ulta Beauty Raises Full-Year Guidance After Strong Q2 Performance
Ulta Beauty Inc (NASDAQ:ULTA) reported second-quarter revenue of $3 billion, exceeding analyst estimates. Earnings per share rose to $6.55 from $6.18 expected and increased by 13.3% year-over-year. The beauty retailer raised its full-year guidance for net sales growth to between 6.7% and 7.2%, up from a previous range of 6% to 7%. Comparable sales rose 3.8%, though this marked a slowdown compared to the prior year. Operating income increased by 10.1% to $379.6 million, while gross profit margin slightly declined to 39.1%. Net income reached $282 million with operating cash flow of $381.6 million during the quarter. Ulta also expanded its stock repurchase authorization and reported significant share buybacks in Q2. CEO Kecia Steelman highlighted strong execution aligned with the company's strategy, emphasizing growth through innovation and customer experience.
Tickers: $ULTA