Ulta Beauty's stock rises on sales, earnings beat
Ulta Beauty Inc.'s stock rose 3% in extended trading Thursday after the chain of beauty stores reported fiscal second-quarter revenue that exceeded Wall Street analysts' forecasts. Ulta Beauty reported net income of $295.7 million, or $5.70 a share, compared with net income of $250.9 million, or $4.56 share, in the year-ago quarter. Adjusted earnings were $5.73 a share. Net sales increased 17% to $2.3 billion from $1.97 billion a year ago. Analysts surveyed by FactSet had expected on average earnings of $4.99 a share on revenue of $2.21 billion. Shares of Ulta Beauty have inched up 2% this year, while the broader S&P 500 index has declined 12%.
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