Overview
- Ulta reported Q3 EPS of $5.14 on revenue of $2.86 billion, topping LSEG estimates of $4.64 and $2.72 billion, respectively, with comparable sales up 6.3%.
- Full-year guidance rose to about $12.3 billion in net sales and $25.20 to $25.50 in EPS, with comparable sales now seen up 4.4% to 4.7%.
- Management cited double-digit fragrance growth, high single-digit skincare gains, and notable e-commerce strength, with margin help from lower shipping costs and reduced inventory shrink.
- Growth initiatives included the Space NK acquisition, seven stores opened in Mexico and a first Middle East location in Kuwait, plus October’s UB marketplace launch with 120+ brands and 3,500+ SKUs.
- Shares jumped after the release and surged to a record on Friday, as firms including Goldman Sachs, JPMorgan, Baird, Piper Sandler and others raised price targets.