After hours on Thursday, Ulta Beauty Inc.’s stock rose as the cosmetics retailer became a little more optimistic about the year ahead, but cautioned that its outlook reflected “uncertainty around how consumer demand could evolve” due to worries about inflation and tariffs.
Ulta (ULTA) raised the upper end of its revenue projection for the fiscal year. The company stated that it has increased its previous projection of $11.5 billion to $11.6 billion in revenues to $11.5 billion to $11.7 billion. Additionally, it stated that it anticipates same-store sales growth to be between flat and 1.5%, whereas its previous projection was between flat and 1%.
The company also stated that it anticipates $22.65 to $23.20 in earnings per share during that time. Ulta had previously predicted $22.50 to $22.90.
After hours, shares increased by 8.3%. Additionally, the company’s first-quarter profits per share and revenue exceeded Wall Street’s projections.
In Ulta’s earnings statement, CEO Kecia Steelman stated that the fiscal year was “off to an encouraging start with stronger-than-expected performance.”
She continued: “The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve.”
Following a significant jump earlier in the day for cosmetics manufacturer E.l.f. Beauty Inc. (ELF), which highlighted robust current-quarter trends, Ulta saw increases.
