Ulta Beauty exceeded fiscal third-quarter earnings expectations, reporting $5.14 per share against the anticipated $4.54, and revenue of $2.53 billion, surpassing the $2.50 billion forecast. The retailer raised its full-year sales outlook to $11.1-$11.2 billion and earnings to $23.20-$23.75 per share, despite earlier concerns about cooling demand and increased competition. Shares rose approximately 10% in after-hours trading, although the stock is down about 19% year-to-date.
As the holiday shopping season approaches, retailers face a stark divide in performance, with Target, Kohl’s, and Best Buy reporting disappointing results, while Walmart and Abercrombie & Fitch thrive. Consumers are increasingly selective, prioritizing value and practical gifts, leading to cautious spending amid ongoing inflation. Despite a projected increase in holiday spending, retailers are bracing for challenges, with some already adjusting forecasts downward.
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