Ulta Beauty Q3 Sales Beat Expectations, Raises Full-Year Fiscal Outlook

CFO Scott Settersten to retire in April 2024, Paula Oyibo to succeed him; shares rise in after-hours trading.

Ulta Beauty's Q3 net sales increased by 6.4% to $2.5 billion, beating Wall Street's expectations.
Skin care was the fastest-growing category for Ulta, with brands like Drunk Elephant and La Roche Posey driving growth.
Despite increased competition, Ulta raised its full-year fiscal outlook for net sales to a range of $11.1 billion to $11.15 billion.
Ulta's CFO, Scott Settersten, will retire in April 2024, to be succeeded by Paula Oyibo, the company's senior vice president of finance.
Ulta's shares rose in after-hours trading following the announcement of the Q3 results and the raised forecasts.