Ulta Salon (NASDAQ: ULTA) reported Q1 EPS of $1.04, $0.11 better than the analyst estimate of $0.93. Revenue for the quarter came in at $868.1 million versus the consensus estimate of $845.83 million. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 11.4% compared to an increase of 8.7% in the first quarter of fiscal 2014.

Ulta Salon sees Q2 2015 EPS of $1.07-$1.12, versus the consensus of $1.09. Ulta Salon sees Q2 2015 revenue of $854-868 million, versus the consensus of $859.25 million. Comparable sales for the second quarter of 2015, including e-commerce sales, are expected to increase 7% to 9%.

The Company is updating its previously announced fiscal 2015 guidance. The Company plans to:

• achieve comparable sales growth of approximately 7% to 9%, including the impact of the e-commerce business, compared to previous guidance of 6% to 8%;
• increase total sales in the mid to high teens percentage range;
• grow e-commerce sales in the 40% range;
• expand square footage by approximately 13% with the opening of 100 net new stores;
• remodel four locations;
• deliver earnings per share growth at the high end of its previous guidance of 15% to 17%, including planned supply chain and system investments, excluding the $0.02 non-recurring tax benefit in Q4 of 2014, and assuming continued share repurchases to offset dilution; and
• incur capital expenditures in the $300 million range in fiscal 2015, compared to $249 million in fiscal 2014.

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