Ulta Beauty posts mixed results, outlook disappoints
The company’s stocks fell as much as 10% after hours, after rising 1.3% in the regular session
Stocks impacted: Ulta Beauty (ULTA)
Ulta Beauty reported fourth-quarter earnings and revenue that topped expectations while posting lower fourth-quarter sales and profit year over year. The company reported a fiscal fourth-quarter net income of $171.5 million, or $3.03 per share, compared with $222.7 million, or $3.89 per share, a year earlier. The seller beauty products and services said its sales at stores open at least 14 months fell 4.8% in the latest period. For fiscal 2021, Ulta expects to earn between $8.85 and $9.30 per share on revenue of $7.2 billion to $7.3 billion. It also announced that Chief Executive Mary Dillon will be replaced by company President David Kimbell. Ulta plans to open 40 net new stores and remodel about 21 stores in the coming year. The company’s stocks fell as much as 10% after hours, after rising 1.3% in the regular session.
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