Ulta (ULTA) stock slipped in early trading Friday after the beauty store retailer cut its full-year outlook despite reporting better-than-expected first-quarter results.
For the three months ended May 4, Ulta’s net sales increased 3.5% year-over-year to $2.7 billion, driven by a 1.6% increase in comparable-store sales and 10 net new store openings. Its earnings per share (EPS) decreased 6% to $6.47 from the year-ago period.
