Year Tag

Ulta has raised its full-year outlook on the back of better-than-expected second-quarter results as consumers proceed to open their wallets at the wonder counter despite an uncertain economic backdrop. Net sales increased 16.8 percent year-over-year to $2.3 billion within the second quarter of the fiscal yr, in comparison with $2 billion in the identical period a yr earlier attributable to the “favorable impact from the continued resilience of the wonder category, the impact of recent brands and product innovation, and the easing of COVID-19 restrictions,” the corporate said. Analysts had forecasted sales of around $2.2 billion, in line with a Factset poll. All major categories exceeded Ulta’s expectations, and the retailer increased market share in prestige beauty versus last yr. In comparison...