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Ulta Beauty Stock Gets a Much-Needed Boost After Earnings

^{Published on 2024-12-06 12:01:24 - Kiplinger}
 

• Beaten-down Ulta Beauty stock is notably higher Friday after the cosmetics retailer's strong earnings report and encouraging outlook.

Ulta Beauty's stock experienced a significant boost following the release of its fiscal first-quarter earnings, which exceeded expectations. The company reported a 9.3% increase in comparable sales and a 12.3% rise in total sales, reaching $2.63 billion, surpassing Wall Street's forecasts. Earnings per share also beat expectations, coming in at $6.88 compared to the anticipated $6.82. Despite a slight dip in gross profit margin due to increased supply chain costs, Ulta Beauty raised its full-year guidance, projecting a 4% to 5% increase in comparable sales and earnings per share between $24.70 and $25.40. This positive earnings report and optimistic outlook led to a 10.8% surge in Ulta's stock price, reflecting investor confidence in the company's growth strategy and market position.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/ulta-beauty-stock-gets-a-much-needed-boost-after-earnings ]

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