Ulta Beauty has increased its annual profit forecast, driven by strong demand for perfumes and makeup during the holiday season. The company reported a 1.7% rise in net sales for the third quarter, which ended November 2, reaching $2.53 billion—surpassing analysts’ expectations of $2.50 billion. Quarterly earnings also exceeded predictions, coming in at $5.14 per share, well above the forecasted $4.54.
Ulta credited its growth to holiday promotions, early November deals, and heightened interest from younger shoppers seeking both mass-market and prestige brands like Elf Beauty and Clinique. The company also expanded its footprint, opening 28 new stores, remodeling 27 locations, and closing two, bringing its total number of stores to 1,437 by the quarter’s end.
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