Ulta Beauty rises after lifting annual sales, profit forecasts
ULTA•Ulta Beauty raises full-year outlook
Shares of Ulta Beauty ULTA.O rise ~2% to $549 in extended trading.
The cosmetics retailer raises annual sales and profit forecasts, betting that marketing and product assortment investments would drive demand even as macroeconomic uncertainty looms.
It expects FY sales to grow between 6.7% and 7.2%, up from its prior forecast of 6% to 7%.
It also sees annual earnings per share in the range of $28.70 to $29, compared with its prior forecast of $28.36 to $28.80 per share.
The median PT of 28 brokerages covering the stock is $635, according to data compiled by LSEG.
Up to the last close, the stock was down ~11% YTD.
