THE WHAT? Ulta Magnificence has reported its outcomes for the second quarter of fiscal 2023. Within the 13 weeks to July 29. 2023, the US magnificence retailer noticed internet gross sales rise 10.1 % versus the prior-year quarter to US$2.5 billion and gross revenue elevated 7.1 % to US$928.2 million.
THE DETAILS Ulta raised its outlook accordingly with internet gross sales now forecast to hit US$11.05 billion to US$11/15 billion, and diluted earnings per share anticipated to succeed in US$25.10 to US$25.60.
THE WHY? Dave Kimbell, CEO, commented, “The Ulta Magnificence group delivered one other quarter of sturdy efficiency, with gross sales, gross revenue, and SG&A bills all higher than our inside expectations. Throughout the quarter, we drove progress throughout all main classes, elevated the variety of loyalty members, and strengthened engagement with the Ulta Magnificence model. As well as, our groups achieved vital milestones for our multi-year, transformational funding agenda designed to drive efficiencies and help our future progress.”
