Ulta Salon (NASDAQ: ULTA) reported Q2 EPS of $1.83, $0.05 better than the analyst estimate of $1.78. Revenue for the quarter came in at $1.29 billion versus the consensus estimate of $1.28 billion.

GUIDANCE:

Ulta Salon sees Q3 2017 EPS of $1.63-$1.68, versus the consensus of $1.68. Ulta Salon sees Q3 2017 revenue of $1.331-1.353 billion, versus the consensus of $1.28 billion.

The Company is raising its previously announced fiscal 2017 guidance. The Company plans to:

• achieve comparable sales growth of approximately 10% to 11%, including the impact of the e-commerce business, compared to previous guidance of 9% to 11%;
• grow e-commerce sales in the 50% to 60% range, compared to previous guidance of 50%;
• open approximately 100 new stores;
• remodel 11 locations and relocate 7 stores;
• deliver earnings per share growth in the high twenties percentage range, compared to previous guidance of mid-twenties percentage range. This includes the impact of the 53rd week, the impact of approximately $350 million in share repurchases, and the impact of the tax rate benefit recorded year to date, 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.