June 10--Ulta Beauty said Tuesday its first-quarter earnings rose 19 percent from a year earlier on a jump in sales, a return to its fast growth trajectory over the past few years.
Its shares jumped more than 7 percent in aftermarket trading following the results.
The Bolingbrook-based cosmetics retailer reported net income of $50 million, or 77 cents per share, beating analysts' expectations. Last year, it earned $41.8 million, or 65 cents per share.
Sales jumped 23 percent to $713.8 million for the quarter ended May 3, up from $582.7 million over the same period last year. Wall Street had estimated revenues of $700 million, in line with Ulta's projections.
Sales at stores open at least year increased 8.7 percent, stronger than the 6 percent growth Wall Street anticipated.
Ulta CEO Mary Dillon, who joined the company last July, had predicted more modest growth as the company slowed its rollout of new stores and invested capital in its supply chain, e-commerce strategy and staff training.
Ulta opened 21 new stores during the first quarter to end with 696 stores.
Follow @alexiaer Follow @chibreakingbiz
(c)2014 the Chicago Tribune
Visit the Chicago Tribune at www.chicagotribune.com
Distributed by MCT Information Services