Ulta Salon, Cosmetics & Fragrance ULTA is up more than 11 percent in after hours trading after announcing its second quarter results.
The company reported a Q2 EPS of $0.70 versus the Street's estimate of $0.67, beating by $0.03. Earnings per share were up 30 percent from the year-ago period.
Ulta Beauty's revenue hit $601 million (a 25 percent increase year-over-year) versus Wall Street's estimate of $588.37 million.
"The Ulta Beauty team delivered a very strong quarter while moving our growth strategy forward," Mary Dillon, Chief Executive Officer of Ulta Beauty, said in a company release.
"Ulta Beauty added several new brands to its stores; we further expanded the number of Clinique and Lancôme boutiques; we drove rapid growth in our e-commerce business; and we achieved record membership in our loyalty program. I am incredibly excited about the future potential of Ulta Beauty, and I look forward to working with the team to build on the solid foundation they have built."
Ulta Beauty highlighted a number of elements within its earnings report, including:
Market News and Data brought to you by Benzinga APIs- Comparable store sales (sales for stores open at least 14 months) increased 8.4 percent, which was shy of the 9.7 percent increase enjoyed during the year-ago period.
- Gross profit increased 50 basis points to 35.3 percent from 34.8 percent in the second quarter of fiscal 2012.
- Net income increased 28.3 percent to $44.9 million compared to $35.0 million in the second quarter of fiscal 2012.
- Income per diluted share increased 29.6 percent to $0.70 compared to $0.54 in the second quarter of fiscal 2012.
- An additional 39 Clinique boutiques were added, increasing the total to 90 stores.
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