Specialty beauty retailer Ulta Beauty, Inc. (NASDAQ: ULTA) has reported better-than-expected sales and profit for the first quarter of fiscal 2026.
Net sales rose 11.1% to $3.16 billion in the first quarter from $2.85 billion in the prior-year quarter, exceeding estimates. Comparable store sales were up 5.3% year-over-year.
Driven by the strong sales growth, net income increased to $340.5 million or $7.74 per share in Q1 from $305.1 million or $6.70 per share in the year-ago quarter. Analysts were expecting a slower bottom-line growth.
“Looking ahead, we remain focused on delivering long-term shareholder value through our strategic growth initiatives, continued prudent cost management, and our differentiated guest experience,” said Kecia Steelman, the company’s chief executive officer.
Management raised its fiscal 2026 earnings guidance to the range of $28.36 per share to $28.80 per share from the previous forecast of $28.05-28.55 per share. It continues to expect a 6-7% annual growth in FY26 sales.
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