Ulta boosted its earnings guidance after posting first-quarter results that included comparable sales and earnings advances.
Net income was $340.5 million, or $7.74 per diluted share, versus $305.1 million, or $6.70 per diluted share, in the previous year’s quarter.
A Zacks Investment Research analyst consensus estimate pegged Ulta first-quarter earnings at $6.90 and revenues at $3.11 billion.
Comparable sales grew 5.3% year over year, the company noted, composed of a 3.7% increase in average ticket and a 1.6% increase in transactions.
Net sales increased 11.1% from the year-earlier quarter to $3.16 billion, primarily because of increased comparable sales, the acquisition of British beauty retailer Space NK and sales from new stores.
Operating income was $448.3 million versus $401.8 million in the year-prior period.
With regard to guidance, sales and comp growth figures remained the same as previously stated at 6% to 7% and 2.5% to 3.5%, respectively. However, Ulta upped its diluted earnings per share growth forecast to $28.36 to $28.80 from $28.05 to $28.55.
In a conference call, Christopher DelOrefice, Ulta CFO, said, “Hair tools declined as the impact of lapping prior-year launches and softness in traditional tools more than offset growth from innovative and accessible brands Shark and T3.”
Kecia Steelman, Ulta president and CEO, said, “Fiscal 2026 is off to a strong start driven by broad-based growth across all channels and major categories. Our results demonstrate the strengths of our model, focused execution of our talented associates and the effectiveness of our strategy in an uncertain macroeconomic landscape.”
