Ulta Salon (ULTA) Tops Q2 EPS by 3c; Boosts FY17 Outlook
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Ulta Salon (NASDAQ: ULTA) reported Q2 EPS of $1.43, $0.03 better than the analyst estimate of $1.40. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.06 billion.
Comparable sales increased 14.4%.
Ulta Salon sees Q3 2016 revenue of $1.07-1.09 billion.
The Company is raising its previously announced fiscal 2016 guidance. The Company plans to:
- achieve comparable sales growth of approximately 11% to 13%, including the impact of the e-commerce business, compared to previous guidance of 10% to 12%;
- increase total sales in the high teens percentage range;
- grow e-commerce sales in the 40% range;
- expand square footage by approximately 11% with the opening of 100 net new stores;
- remodel 12 locations;
- deliver earnings per share growth in the low to mid-twenties percentage range, compared to previous guidance of low twenties percentage range, including the impact of the new Dallas distribution center, the accelerated rollout of prestige brand boutiques, the accelerated share repurchase program, and continued open market share repurchases; and
- incur capital expenditures in the $390 million range in fiscal 2016, compared to $299 million in fiscal 2015. The planned increase in capital expenditures includes approximately $80 million to fund an accelerated rollout of prestige brand boutiques and enhancements to the Ulta Beauty Collection and fragrance fixtures in hundreds of stores.
For earnings history and earnings-related data on Ulta Salon (ULTA) click here.
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