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Ulta shares rise after beauty retailer posts 60% gain in revenue, as makeup sales recover


Florida, Port St Lucie, The Landing at Tradition, outdoor mall, Ulta, beauty cosmetics store.

Jeff Greenberg | Universal Images Group | Getty Images

Ulta Beauty shares rose more than 4% on Wednesday after the company reported fiscal second-quarter sales jumped more than 60% as shoppers rushed in to restock their makeup bags.

In trading earlier Wednesday, its stock hit a 52-week high of $390.68.

During the second quarter ended July 31, the company said net income rose to $250.9 billion, or $4.56 per share, compared with $8.1 billion, or 14 cents per share, a year earlier.

Revenue rose to $1.97 billion from $1.2 billion last year.

Analysts surveyed by Refinitiv had expected the company to earn $2.59 per share on revenue of $1.76 billion.

The company’s same-store sales grew 56.3% in the quarter. Last year, same-store sales fell 26.7% as the pandemic weighed on makeup sales.

Read the full release from Ulta Beauty here.

This is breaking news. Please check back for updates.



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