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Ulta swings towards profits and exceeds expectations at top and bottom lines

American cosmetics retailer Ultra Beauty, Inc. announced Thursday that its first-quarter net earnings were $ 230.3 million, or $ 4.10 per diluted share.

Ulta’s Q1 sales and revenue exceeded analysts’ expectations-Instagram: @ultabeauty

In the first quarter of 2020, Bolingbrook, Illinois-based retailers felt the pain of a temporary store closure in response to the Covid-19 pandemic, diluting $ 78.5 million. It led to a net loss of $ 1.39 per share.

However, Ulta’s earnings for the first quarter through May 1, 2021 were $ 192.2 million reported by the company two years before the onset of the health crisis, or 3.26 per diluted share. It represents an improvement from dollar earnings. ..

The company’s quarterly net sales were $ 1.94 billion, surpassing the $ 1.65 billion forecast by MarketWatch-cited FactSet survey analysts. This total increased 65.2% compared to $ 1.17 billion in sales in the first quarter of 2020 and increased 11.2% from $ 1.74 billion in the first quarter of 2019.

Comparable sales were up 65.9%, down 35.3% in the year-ago quarter and up 7.0% in the first quarter of 2019.

“Since 2020, we have emerged with strong momentum in sales trends, market share growth and consumer sentiment,” said Dave Kimbell, President of Alta Beauty. The differentiated model leads the category’s recovery, coupled with ongoing efforts to build meaningful guest connections, as the desire for relaxation and newness enhances engagement with the beauty category. Suitable for. “

Ulta has also revised its financial outlook for fiscal year 2021 in line with better-than-expected performance. The company currently expects full-year net sales to range from $ 7.7 billion to $ 7.8 billion from previous guidance of $ 7.2 billion. And $ 7.3 billion. Comparable sales are now expected to grow between 23% and 25%, compared to previous forecasts that were forecasting an increase of 15% to 17%.

Finally, diluted annual earnings per share are currently projected to range from $ 11.50 to $ 11.95, but the company previously predicted to be between $ 8.85 and $ 9.30.

Ulta opened 28 new locations in the first quarter, closed two and closed 1,290 stores.

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Ulta swings towards profits and exceeds expectations at top and bottom lines

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