{"id":15798,"date":"2015-05-30T11:28:48","date_gmt":"2015-05-30T16:28:48","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=15798"},"modified":"2015-05-30T11:29:26","modified_gmt":"2015-05-30T16:29:26","slug":"ulta-shares-drop-despite-earnings-surge-and-upbeat-outlook","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/ulta-shares-drop-despite-earnings-surge-and-upbeat-outlook\/","title":{"rendered":"Ulta shares drop despite earnings surge and upbeat outlook"},"content":{"rendered":"

By Siyuan Du<\/p>\n

Ulta Salon, Cosmetics\u00a0& Fragrance Inc. reported a 34 percent increase in quarterly net income, driven by strong growth in both retail and online traffic and sales.<\/p>\n

Sales increased 21.6 percent to $868.1 million, and comparable sales increased 11.4 percent.<\/p>\n

The results, released late Thursday, sent the company\u2019s shares up 2.3 percent initially in after-hours trading. But on Friday, Ulta reversed course, closing down $3.65, or 2.34 percent at $152.62.<\/p>\n

\u201cWe achieved our best comparable sales growth since 2011, driven by strong traffic growth in both retail and e-commerce, market share gains across all categories, and continued successful execution of our marketing strategies,\u201d said Mary Dillon, chief executive officer.<\/p>\n

The company earned $66.9 million, or $1.04 per diluted share, for the quarter ended May 2, compared with $50 million, or 77 cents per diluted share, in the year earlier quarter.<\/p>\n

The results beat the analysts\u2019 consensus expectation of 93 cents per diluted share, according to Bloomberg L.P.<\/p>\n

According to Mark Altschwager, analyst with Robert W. Baird & Co., Ulta is a top growth retail company because of the shifting trend from department stores to specialty retailers, the company\u2019s one-stop shopping concept and its expanding loyalty program.<\/p>\n

The beauty retailer expects to earn $1.07 to $1.12 per diluted share for the second quarter, compared with 94 cents for the year earlier quarter. Analysts\u2019 consensus expectation of its second-quarter earnings is $1.10 per diluted share, according to Bloomberg L.P.<\/p>\n

The company raised its estimate of comparable sales growth for full-year 2015 to between 7 percent and 9 percent from its previous estimate of 6 percent to 8 percent.<\/p>\n

\u201cWe believe the solid momentum in the first quarter has been continued and underscored by management\u2019s confidence in its current product pipeline and 9 percent growth in per store inventory levels,\u201d Kelly Halsor, analyst with the Buckingham Research Group, wrote in a note.<\/p>\n

According to Halsor, new stores, ecommerce, new products and salon services are the main drivers of Ulta\u2019s accelerating growth trend.<\/p>\n

Photo at top: Ulta store on State Street in Chicago (Siyuan Du\/Medill)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Siyuan Du Ulta Salon, Cosmetics\u00a0& Fragrance Inc. reported a 34 percent increase in quarterly net income, driven by strong growth in both retail and online traffic and sales.<\/p>\n","protected":false},"author":31,"featured_media":15799,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,436],"tags":[],"class_list":["post-15798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-spring-2015"],"yoast_head":"\nUlta shares drop despite earnings surge and upbeat outlook - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/ulta-shares-drop-despite-earnings-surge-and-upbeat-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ulta shares drop despite earnings surge and upbeat outlook - 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