(Tiper Stock Exchange) – Ultra Beautythe largest beauty retailer in the United States, has registered net sales up 12.3% to $2.63 billion in the first quarter of fiscal 2023 (ended April 29, 2023), due to increased comparable sales and strong new store performance. The comparable sales increased by 9.3%, driven by an 11% increase in transactions and a 1.5% average decline in receipts.
Gross profit increased 12.1% to $1.1 billion. L’Net income increased 4.7% to $347.1 million. L’earning per share was $6.88 (vs. $6.30).
The analysts they expected average earnings per share of $6.87 on revenues of $2.62 billion, according to Refinitiv data.
“While we expect the operating environment to continue to evolvewe remain confident in the resilience of the beauty category and in our ability to drive profitable growth with our proven business model, world-class and diverse assortment, leading loyalty program, and world-class team,” said the CEO Dave Kimbell.
The company now predicts a operating margin between 14.5% and 14.8%, compared to the previous projection from 14.7% to 15.0%, but raised the forecasts of sale annually (11-11.1 billion vs. previous of 10.95-11.05).