Ulta Beauty Reports Strong Second Quarter, Raises Full-Year Outlook
Ulta Beauty announced its earnings results for the second quarter, reporting sales of $2.79 billion. This was a 9.3% increase compared to the same period last year and was higher than Wall Street's expectations of approximately $2.65 billion.
The sales growth was supported by higher comparable sales, the acquisition of Space NK, and new store openings. All major product categories showed growth, helping Ulta defy broader retail challenges.
Following the strong performance, Ulta Beauty raised its full-year forecast, expressing confidence in continued demand for beauty products. The company noted that its product selection has resonated well with shoppers, even as consumers are cautious with other non-essential spending.
Revenue grew due to higher sales in existing stores, the acquisition of Space NK, and opening new locations.
It means Ulta expects to have better sales and earnings for the year than it previously anticipated.
Ulta performed well, reporting growth even as other retailers faced challenges. Its beauty products remain in strong demand.
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