Sales at shops open no less than a 12 months elevated by 66%.
Dimitrios Kambouris/Getty Images for ULTA Beauty / KKW Beauty
The cosmetics retailer Ulta Beauty turned in significantly better fiscal first-quarter outcomes than anticipated, lifting the inventory and exhibiting that buyers are wanting to look their finest as they start to depart their homes once more. Ulta (ULTA) mentioned it earned $230.3 million, or $4.10 a share, in contrast with a lack of $1.39 within the year-earlier interval. Revenue climbed 65.2% to $1.94 billion. Analysts have been in search of EPS of $1.99 and income of $1.65 billion.
Same-store gross sales jumped 66%, boosted by each the variety of complete transactions and better common order totals, coming in forward of consensus estimates. Ulta was up 4.5% to $343.25 in early buying and selling, a transfer that contrasts with the market response to latest stories from
(ELF). Both firms reported equally constructive developments, however offered off after the outcomes. Ulta shares have gained 14.3% 12 months to this point and have risen 35% previously 12 months. Looking forward, the corporate sees full-year gross sales totaling $7.7 billion to $7.8 billion, up from a earlier vary of $7.2 billion to $7.3 billion, and comfortably above consensus. That would put income forward of pre-pandemic 2019 ranges. There was so much to love within the quarter, together with the large bottom-line outperformance, at the same time as in-store visitors hasn’t but absolutely recovered to pre-pandemic ranges. The firm’s e-commerce gross sales nonetheless grew 12 months over 12 months, regardless of triple-digit beneficial properties in 2020. Strength was evident throughout all classes, with double-digit beneficial properties in areas like skincare, hair care, and fragrances, whereas make-up demand confirmed additional indicators of enchancment. Write to Teresa Rivas at [email protected]