Ulta Beauty Results Beat in Q1; Raises Guidance on Reopening Optimism By

© Reuters. Ulta Beauty Earnings, Revenue Beat in Q1

By Yasin Ebrahim – Ulta Beauty (NASDAQ:) reported on Thursday first quarter that topped analysts’ forecasts and the sweetness retailer raised its full-year forecast because the reopening is anticipated to spice up the restoration in demand.

Ulta Beauty shares gained 5% in after-hours commerce following the report.

For the full-year 2021 comparable gross sales are forecast at between 23% to 25%, up from the earlier steering vary of 15% to 17%; and EPS in a variety of $11.50 to $11.95, up from prior estimate of $8.85 to $9.30. Revenue was anticipated to be between $7.7B to $7.8B.

Ulta Beauty introduced earnings per share of $4.07 on income of $1.94B. Analysts polled by anticipated EPS of $1.93 on income of $1.64B.

“The net sales increase during the first quarter of fiscal 2021 was primarily due to the favorable impact in the U.S. from improving consumer confidence, government stimulus payments and the easing of COVID-19 restrictions,” the corporate stated.

Comparable gross sales elevated 65.9%, in contrast with a lower of 35.3% in the primary quarter of fiscal 2020, pushed by a 52.5% improve in transactions and an 8.8% improve in common ticket.

“As increasing consumer confidence, the relaxation of restrictions, and a desire for newness drive increased engagement with the beauty category, our differentiated model, combined with our ongoing efforts to create meaningful guest connections, position us well to lead through the category recovery.”

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