Credit: Shutterstock photoUlta Beauty Inc. ULTA just released its first quarter fiscal 2017 earnings results, posting earnings of $1.91 per share and revenues of $1.314 billion. Currently, ULTA is a #3 (Hold) on the Zacks Rank, and is up 4.9% to $307.44 per share in trading shortly after its earnings report was released.
Ulta:
Beat earnings estimates. The company reported earnings of $1.91 per share, topping the Zacks Consensus Estimate of $1.79 per share. This number excludes 14 cents from non-recurring items.
Beat revenue estimates. The company saw revenues of $1.314 billion, soaring past our consensus estimate of $1.276 billion and increasing 22.5% year-over-year.
Comparable store sales increased 14.3%, driven mostly by 8.7% transaction growth and 5.6% growth in average ticket. Retail comps increased 10.9%, including salon comparable sales growth of 9.9%.
E-commerce sales jumped 70.9% to $104.9 million compared to $61 million in the first quarter of fiscal 2016. This represents 340 basis points of Ulta's total comps.
Looking ahead, Ulta has raised its fiscal 2017 guidance. The beauty giant now expects to achieve comps growth of roughly 9% to 11%, including the impact of its e-commerce business. Ulta expects to grow online sales in the 50% range and open roughly 100 new stores.
For Q2, Ulta expects net sales in the range of $1.257 billion to $1.278 billion, with earnings between $1.72 and $1.77 per share.
"The Ulta Beauty team kicked off 2017 with excellent performance in the first quarter," said Mary Dillon, Chief Executive Officer. "Strong execution of our growth strategies delivered above plan sales and earnings growth. Our results reflect continued newness and innovation in merchandising, successful marketing programs, steady progress in our salon business and exceptional growth in e-commerce."
Here's a graph that looks at Ulta's price, consensus, and EPS surprise:
Ulta Beauty Inc. Price, Consensus and EPS Surprise
Ulta Beauty Inc. Price, Consensus and EPS Surprise | Ulta Beauty Inc. Quote
Ulta Beauty, Inc. is a beauty retailer primarily in the United States and the premier beauty destination for cosmetics, fragrance, skin, hair care products and salon services. Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc., is based in Bolingbrook, Illinois.
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Ulta Beauty Inc. (ULTA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
