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Ulta Beauty raises annual profit forecast, shares rise

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Cosmetics retailer Ulta Beauty raised its annual profit forecast on Thursday, signaling a bounce back in demand for perfumes and makeup during the holiday shopping season and sending its shares up more than 11.
Ulta Beauty Inc. raised its annual profit forecast on December 5, 2024, following a third-quarter performance that exceeded Wall Street expectations, driven by robust demand for makeup and skincare products. The company reported a 4.5% increase in net sales to $2.5 billion for the quarter ending October 28, with same-store sales growing by 2.5%. Ulta Beauty now anticipates full-year earnings per share to be between $25.20 and $25.60, up from the previous forecast of $25.10 to $25.50. This optimistic outlook led to a 2% rise in Ulta's shares during premarket trading. The company's success is attributed to its ability to attract customers with new product launches and loyalty programs, despite a challenging economic environment.

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[ https://www.reuters.com/business/retail-consumer/ulta-beauty-raises-annual-profit-forecast-shares-rise-2024-12-05/ ]