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Ulta Beauty, Inc. (NASDAQ: ULTA) stock closed more than 5% higher Friday after the beauty retailer posted a first-quarter beat and raise, with $1.9 billion in net sales up 65.2% from $1.2 billion one year earlier and beating the $1.64-billion Street estimate.
Ulta’s first-quarter net income was $230.3 million compared to a net loss of $78.5 million in the first quarter of fiscal 2020.
Its diluted earnings per share was $4.10, including a 3-cent benefit due to income tax accounting for share-based compensation, versus $1.39 in the first quarter of 2020.
“We have emerged from 2020 with strong momentum in our sales trends, market share gains, and consumer sentiment,” Ulta President Dave Kimbell said in a statement.
Ulta Beauty Q1 Results Beat Street View, Raises Outlook; Shares Up 4%
WASHINGTON (dpa-AFX) - Beauty retailer Ulta Beauty Inc. (ULTA) on Thursday posted a profit for the first quarter, a turnaround from a loss last year, as revenues surged over 65%. Moving ahead, the company raised its outlook for fiscal year 2021.
The company now expects earnings per share of $11.50 to $11.95 for full year 2021, up from prior forecast of $8.85 to $9.30. Net sales are now expected between $7.7 billion and $7.8 billion, up from the earlier announced $7.2 billion and $7.3 billion. On average, 30 analysts polled by Thomson Reuters expect the company to report earnings of $9.85 per share on revenues of $7.41 billion in fiscal 2021.
The S&P 500 was set to ease from a record high at the open on Friday, as a spike in U.S. bond yields reignited inflation worries and dented appetite for high-growth stocks.