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published in Blogs
May 27, 2022
Ulta (ULTA, $382.04) tops Q1 expectations

Ulta (ULTA, $382.04) tops Q1 expectations

Ulta Beauty posted its first quarter earnings that surpassed analysts' expectations. Revenue, too,  beat expectations.

The beauty/cosmetics company’s earnings came in at $6.28 per share, well above the $4.44 expected by analysts polled by Investing.com.  Revenue rose +21% from the year-ago quarter to $2.35 billion also exceeding expectations of $2.12 billion.

Relaxation of  pandemic-driven restrictions have proven to be beneficial for the company. Comparable store sales climbed + 18% from the year-ago month, on the back of  a 10% jump in transactions and a 7% increase in each sale size.

Ulta boosted its forecast for the 2022 fiscal year, to a range of 6 percent to 8 percent year-on-year sales growth, to between $9.35 billion and $9.55 billion. Chief executive officer Dave Kimbell indicated that while inflation remains a concern, he was optimistic by consumers’ “emotional connection” to beauty.

Related Tickers: ULTA