Shares of Ulta Beauty rose following the discharge of the sweetness firm’s better-than-expected fourth-quarter earnings.
Ulta shares had been up practically four p.c in premarket buying and selling early Friday.
The sweetness retailer reported earnings per share of $3.61 on income of $2.12 billion. Wall Avenue estimated earnings per share of $3.56 on income of $2.11 billion, in keeping with Refinitiv.
Ulta’s same-store gross sales elevated 9.four p.c, in comparison with the estimated enhance of seven.9 p.c.
New cosmetics traces from Kylie Jenner and YouTuber James Charles drove extra prospects into shops serving to it beat analysts’ comp gross sales estimates, CEO Mary Dillon stated.
Ulta launched an exclusive brick-and-mortar distribution deal for Jenner’s Kylie Cosmetics line in Ulta shops final November. The favored assortment of lip kits and colour cosmetics is presently valued at round $800 million and has frequently attracted each customers and traders to Ulta.
—CNBC’s Nia Warfield and Reuters contributed to this report.