Ulta Beauty, the specialty beauty retailer, has announced an increase in its revenue and profit growth guidance for the year. Following higher sales in the latest quarter, Ulta now expects full-year sales in the range of $11.10 billion to $11.15 billion, up from the previous guidance of $11.05 billion to $11.15 billion. Additionally, comparable sales are projected to grow by 5% to 5.5%, compared to the previously forecasted range of 4.5% to 5.5%.
Moreover, Ulta anticipates earnings per share to be in the range of $25.20 to $25.60 for the year, an increase from the previous range of $25.10 to $25.60 a share. This positive outlook is attributed to the company’s efforts in reducing capital expenses and depreciation and amortization costs.
Ulta Beauty CEO, Dave Kimbell, expressed confidence in the company’s plans to deliver a delightful experience for their guests during the holiday season and expand their leadership position in the specialty beauty retail market. He also emphasized their commitment to long-term shareholder growth.
These updates come as Ulta Beauty reported higher-than-expected sales in the fiscal third quarter, which ended on October 28th.
