Ulta Beauty shares climb on earnings beat and raised outlook

Net sales for the quarter ending May 2 climbed 11% compared to the previous year, while comparable sales grew 5.3%, handily beating the 4.6% growth projected by StreetAccount. Investors reacted to a bottom-line performance of $7.74 per share, surpassing the $6.86 consensus, on revenue of $3.16 billion.

CEO Kecia Steelman credited broad-based growth across all categories for the performance, positioning the firm to handle an uncertain macroeconomic climate. While the company maintained its revenue and same-store sales projections for the full year, it raised its earnings per share guidance to a range of $28.36 to $28.80. This optimism stands in contrast to broader market trends, where rising inflation and fuel costs have forced many consumers to tighten their discretionary budgets.