Ulta Beauty Plans 100 New Stores After Earnings Beat Expectations
Bolingbrook, IL-based Ulta Beauty Inc. beat analysts’ expectations with fourth-quarter 2022 results, including 18% increases in sales and net income. CEO Dave Kimbell told CNBC that plans call for the addition of roughly 10 new brick-and-mortar stores over the next two years, along with building its partnership with Target, with whom it currently operates 350 ... The post Ulta Beauty Plans 100 New Stores After Earnings Beat Expectations appeared first on Connect CRE.
Bolingbrook, IL-based Ulta Beauty Inc. beat analysts’ expectations with fourth-quarter 2022 results, including 18% increases in sales and net income. CEO Dave Kimbell told CNBC that plans call for the addition of roughly 10 new brick-and-mortar stores over the next two years, along with building its partnership with Target, with whom it currently operates 350 store-within-stores.
“For the first time in our 33-year history, Ulta Beauty’s annual revenue surpassed $10 billion, our annual net income exceeded $1 billion and we exceeded 40 million Ultamate Rewards member,” Kimbell said when earnings were announced.
Looking ahead, the company expects full-year revenue for 2023 to be between $10.95 billion and $11.05 billion along with earnings per share of between $24.70 and $25.40. CNBC reported that Wall Street was anticipating 2023 revenue of $10.74 billion and earnings per share of $24.25, citing projections from Refinitiv.
The post Ulta Beauty Plans 100 New Stores After Earnings Beat Expectations appeared first on Connect CRE.
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