Ulta Beauty raises full-year forecast after reporting growth in all major categories | AI News Digest
Ulta Beauty has raised its full-year forecast after reporting impressive growth across all major categories, surpassing Wall Street's sales expectations. The beauty retailer anticipates comparable sales growth of 2.5% to 3.5%, up from previous estimates of 1.5%. Ulta's net sales are projected to reach between $12 billion and $12.1 billion, reflecting a significant increase from last year's $11.3 billion. The company also reported a net income rise to $260.88 million for the second quarter, with comparable sales growing 6.7% year-over-year. CEO Kecia Steelman highlighted the strength of consumer engagement in beauty, despite economic challenges. Ulta is also expanding internationally and enhancing its product offerings to attract more customers.
