N🟁N

Ulta Beauty raises annual profit forecast, shares rise

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.

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