Ulta Beauty, Inc. (NASDAQ: ULTA) has reported a sharp increase in sales for the third quarter of 2022 when the beauty store chain’s comparable store sales rose in double digits. The company also raised its full-year 2022 guidance.
At $2.34 billion, third-quarter net sales climbed 17.2% from the prior-year period. Comparable store sales increased by 14.6% during the three-month period.
Net income moved up to $274.6 million or $5.34 per share in the most recent quarter from $215.3 million or $3.94 per share in the same period of 2021. The management currently expects full-year sales to be in the range of $9.95 billion to $10.00 billion, which is higher than the prior guidance.
Read management/analysts’ comments on quarterly reports
“Our third quarter results reflect the sustained resilience of the beauty category and the strong emotional connection and loyalty we have cultivated with our guests. I am confident our business model, which offers unmatched breadth, value, and convenience, is even more relevant today and unlocks opportunities to further delight guests as we continue to lead the beauty category,” said Dave Kimbell, chief executive officer of Ulta Beauty.