Ulta Beauty Up on Q2 Profit as We Haven’t Fully Given Up on Lipstick By Investing.com

Kuwait asks parliament to approve debt law to help cover

© Reuters. Ulta Beauty Earnings Beat, Revenue Misses In Q2

By Yasin Ebrahim

Investing.com – Ulta Beauty said Thursday it has continued to see signs of improved performance as lockdown measures eased after reporting second-quarter earnings that beat, but revenue fell of Wall Street expectations.

Ulta Beauty (NASDAQ:) gained 5.71% in after-hours trade following the report.

Ulta Beauty announced earnings per share of $0.73 on revenue of $1.23B. Analysts polled by Investing.com anticipated EPS of $0.1 on revenue of $1.26B.

Comparable sales decreased 26.7% in the quarter, compared with estimates for a 30.8% decline.

Gross margin fell to 26.8% from 36.4% a year earlier.

“Comparable sales trends improved significantly throughout the quarter, from decreasing 37% in early May, as we began reopening stores, to decreasing 10% in July, when most of our stores were re-opened. Notably, sales trends have continued to improve, with comparable sales down in the mid-single digit range for the first three weeks of August,” the company said.

The previously announced plans to close 19 stores, which will occur during the third quarter of fiscal 2020, the company said.

Ulta Beauty shares are down 11.51% from the beginning of the year, still down 34.50% from its 52 week high of $342.00 set on August 29, 2019. They are under-performing the which is up 36.56% from the start of the year.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.