Ulta shares pop as beauty retailer beats Wall Street expectations and hikes earnings outlook Ulta Beauty surpassed Wall Street’s expectations for its fiscal first quarter, reporting higher earnings per share and revenue. The company raised its full-year earnings outlook, citing a strong start driven by broad-based growth across all channels and categories. Key contributors to their success included the launch of Ulta’s TikTok Shop and new brand introductions, with fragrances emerging as the strongest category.

• Ulta Beauty exceeded top and bottom line expectations for its fiscal first quarter.
• The company raised its full-year earnings per share guidance.
• Net sales increased approximately 11% year-over-year, with comparable sales up 5.3%.
• CEO Kecia Steelman highlighted the success of Ulta’s TikTok Shop and the launch of new brands, including Rare Beauty.
• Fragrances were the strongest category, increasing their contribution to total revenue.
• The results were achieved despite a dip in consumer confidence and pullback in discretionary spending.