Beauty retailer Ulta Beauty, Inc. (ULTA) will report its third-quarter results on November 30. In its second quarter (ended July 29, 2023), the company experienced higher consumer spending on beauty and skincare products. ULTA also raised prices to fortify margins, leading to an approximate 10% year-over-year rise in net sales to $2.53 billion. Its $6.02 EPS also topped the $5.85 Street estimate.
The company slightly raised its fiscal 2023 net sales forecast from $11.0 billion-$11.1 billion to $11.05 billion-$11.15 billion. On the other hand, as shoppers become cautious in their spending, a possible rise in inventories this holiday season could be challenging for retailers like ULTA to navigate.
