Ulta Beauty's Stock Surges on Strong Sales and Earnings
Ulta Beauty reported a 6% increase in sales for the third quarter, with shoppers continuing to spend on fragrances, skincare, and more despite tight budgets. The specialty beauty retailer raised its full-year sales and earnings expectations and expects a more promotional holiday season. Ulta's CEO noted healthy traffic at stores and online, and the company's shares rose by as much as 10% in after-hours trading. The company also announced a leadership change, with its CFO retiring in April and being replaced by Ulta's senior vice president of finance. Ulta's third-quarter results showed growth in nearly every category, with skincare being the fastest-growing segment.
