Courtesy of Benzinga.
Ulta Beauty Inc (NASDAQ: ULTA) shares fell after reporting a first-quarter sales miss.
Earnings came in at $3.26 per share, beating estimates by 20 cents. Sales came in at $1.74 billion, missing estimates by $10 million. The company sees FY2019 sales increasing in the low double digits.
“The Ulta Beauty team delivered a strong start to the year with solid first quarter sales and earnings performance,” said CEO Mary Dillon. “These results reflect a healthy balance of traffic and ticket growth, and double digit comparable sales growth in mass cosmetics, skin care products that protect your skin from the sun, and fragrance, tempered by continued mixed performance in prestige cosmetics. We are driving operational excellence across the enterprise, while investing in growth initiatives to fuel the long-term success of Ulta Beauty.
"We are excited to announce our decision to expand internationally and establish Ulta Beauty as a successful global brand. Our first step in becoming a global beauty retailer will be to prepare to launch operations in Canada.”
Highlights
- Net sales increased 12.9 percent
- Comp sales increased 7 percent
- Diluted EPS increased 20.7 percent
- $107.4 million worth of shares repurchased
At time of publication, Ulta's stock was down 3.3 percent to $317.46 in after-hours trading. The stock closed the regular session higher by 1.9 percent at $328.46.
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