Ulta Beauty came out of the first quarter starting gate strong, with earnings that easily topped Wall Street estimates and big increases in store and online sales.
Net sales increased 22.5% to a better-than-expected $1.31 billion from $1.0 billion in the year-ago period. Total same-store sales increased 14.3%, also more than expected, driven by 8.7% transaction growth and 5.6% growth in average ticket.
Online, the brand was on fire. E-commerce sales skyrocketed 70.9% to $104.3 million from $61.0 million last year. Ulta said it now expects to grow e-commerce sales in the 50% range, compared to its previous guidance of 40%, in its current fiscal year.. . . more