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Ulta Beauty Misses Earnings, Cutting Guidance; Shares plunge by Investing.com



© Reuters. Ulta Beauty Earnings, Revenue Miss in Q2

Investing.com – Ulta Beauty cut its profit on Thursday after reporting second-quarter earnings that missed analysts' expectations for both bottom and top lines, with the company blaming today's headwind US cosmetics .

Ulta Beauty (NASDAQ 🙂 sees full-year earnings per share in the range of $ 11.86 to $ 12.06, down from a previous range of $ 12.83 to $ 13.03.

The company reported per share of $ 2.72 for a turnover of $ 1

.67 billion. Analysts polled by Investing.com expected earnings per share of $ 2.8 for revenue of $ 1.68 billion. This compares with earnings per share of $ 2.46 on revenue of $ 1.49 billion in the same period last year. The company had reported earnings per share of $ 3.26 for revenue of $ 1.74 billion in the previous quarter.

Comparable sales increased 6.2% in the quarter, driven by 5.4% transaction growth and 0.8% growth in average ticket sales.

"Looking ahead, we have updated the 2019 budget outlook to reflect the headwinds we are currently seeing in the US cosmetics market," CEO Mary Dillon said in a statement.

"We are still confident that our guest-centric, differentiated business model will drive continued market gains and strong returns for our shareholders over the long term."

Ulta Beauty (NASDAQ 🙂 shares lost more than 20% in trading after the market.

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