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Ulta Beauty posted disappointing Q2 earnings figures

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
People went wild with online shopping

One of the largest chains of beauty stores in the US, Ulta Beauty, posted Q2 earnings that came below expectations. 

#Ulta posted quarterly #earnings of $8.1 million, or 14 cents per share. During the same time last year, it reported a net income of $161 million, or $2.76/share. 

Sales figures came in at $1.23 billion, 26% lower than last year’s $1.7 billion. 

According to Ulta’s statement, due to the pandemic, its same-store sales fell roughly 27%, but the e-commerce segment reported a 200% increase. Despite the pick-up in demand, it will take a while for the sales to return to the pre-pandemic levels. 

For the rest of the year, Ulta Beauty didn't provide any guidance, but it expects pandemic-related costs to reach a high of $40 million.  

During the regular trading session, Ulta shares gained 1.5%. In extended trading, shares rose more than 16%. 

Read about the latest Q2 reports from the beauty companies here!

Sources: marketwatch.com. cnbc.com


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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.