Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) marked a new high after the beauty products retailer released exciting first-quarter corporate earnings and outlined major growth plans for the future.
The company’s net income rose about 50 percent on strong sales. The results were ahead of market forecasts and they predict their full-year results will surpass their earlier forecasts. In addition to the impressive quarter report and earnings, the company said it anticipates including 1,200 stores for the year, which is higher than its prior plans of adding 1,000 stores. It also has a plan to increase the number of Lancome boutiques in its stores which shows a focus on high-end products.
Oppenheimer analyst Joseph Altobello lifted his earnings outlook for the coming two fiscal years and raised his target price to $103 from $100.
http://www.pt-news.org/ulta-salon-cosmetics-fragrance-inc-s-nasdaqulta-impressive-earnings-and-outlook-leads-price-to-a-new-high-ulta-perf-rgs-sga/123112/
|