Ulta Salon (NASDAQ: ULTA) reported Q1 EPS of $2.05, $0.25 better than the analyst estimate of $1.80. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.27 billion.

Comparable Sales Increased 14.3%

GUIDANCE:

Ulta Salon sees Q2 2017 EPS of $1.72-$1.77, versus the consensus of $1.77. Ulta Salon sees Q2 2017 revenue of $1.26-1.28 billion, versus the consensus of $1.27 billion.

• Comparable sales for the second quarter of 2017, including e-commerce sales, are expected to increase 10% to 12%.

The Company is raising its previously announced fiscal 2017 comparable sales and earnings per share guidance.

For fiscal 2017, the Company plans to:

• achieve comparable sales growth of approximately 9% to 11%, including the impact of the e-commerce business, compared to previous guidance of 8% to 10%;
• grow e-commerce sales in the 50% range, compared to previous guidance of 40%;
• open approximately 100 net new stores;
• remodel 11 locations and relocate 6 stores;
• deliver earnings per share growth in the mid-twenties percent range, compared to previous guidance of low twenties percent range. This includes the impact of the 53rd week, the impact of approximately $300 million in share repurchases, and the impact of the tax rate benefit recorded in the first quarter, and excludes any tax rate impact from the new accounting standard related to share-based payment for the rest of the year; and
• incur capital expenditures in the $460 million range in fiscal 2017, compared to $374 million in fiscal 2016. The planned increase in capital expenditures includes approximately $80 million to fund prestige brand expansions.

For earnings history and earnings-related data on Ulta Salon (ULTA) click here.