Beauty retailer Ulta Beauty has announced strong Q3 results with net income leaping 23.2 percent to $87.6 million.
Strong sales also helped net sales increase 24.2 percent to $1.131 billion, which was better than expected, while online sales soared 59.1 percent year on year to reach $73.6 million. Meanwhile retail comparable sales increased 14.3 percent, including salon comparable sales growth of 10.3 percent.
The company also increased its bricks and mortar presence during the period with 42 more store openings.
Due to the strong results Ulta increase its 2016 guidance, with the company suggested it will ‘increase total sales in the low twenties percentage range, compared to previous guidance of high teens percentage.’