Ulta revisits forecast after ‘solid’ Q2 performance

Ulta revisits forecast after ‘solid’ Q2 performance

Ulta has announced its financial results for the second quarter of the financial year. Net sales were up 12 percent over the three months ended August 3, 2019 to US$1,488.2 million, while comparable sales rose 6.2 percent compared to the same period a year ago.

“The Ulta Beauty team delivered another quarter of solid top-line performance, gross margin expansion, and double-digit earnings growth,” said Mary Dillon, Chief Executive Officer. “Looking forward, we have updated our fiscal 2019 outlook to reflect the headwinds we are currently seeing in the US cosmetics market. We remain confident that our guest-centric, differentiated business model will drive continued market share gains and strong returns for our shareholders over the long term.”

For fiscal 2019, the company said it expects total sales of between 9 and 12 percent (upgraded from the low double-digit growth previously forecast) but comparable sales of 4 to 6 percent (previously 6 to 7 percent).

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