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Ulta Beauty Shares Get Smeared After Q2 Miss, Guidance Cut

Ulta Beauty Shares Get Smeared After Q2 Miss, Guidance Cut

Ulta Beauty Inc (NASDAQ: ULTA) shares were falling in Thursday's after-hours session after the beauty retailer reported a second-quarter earnings miss and cut its full-year guidance. 

Earnings came in at $2.76, missing estimates by 4 cents. Sales came in at $1.67 billion, missing estimates by $10 million.

The company lowered its fiscal year 2019 earnings guidance from a range of $12.83-$13.03 per share to $11.86-$12.06.

Comparable sales rose by 6.2%, a drop of 0.3% year-over-year. The comp growth was driven by 5.4% transaction growth and 0.8% growth in average ticket size, according to Ulta. 

"Looking forward, we have updated our fiscal 2019 outlook to reflect the headwinds we are currently seeing in the U.S. cosmetics market," CEO Mary Dillon said in a statement.

"We remain confident that our guest-centric, differentiated business model will drive continued market share gains and strong returns for our shareholders over the long term."

Ulta shares were plunging by 17.62% to $277.99 at the time of publication. 

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