Published on 28 May 2024 on Zacks via Yahoo Finance
Ulta Beauty, Inc. ULTA is likely to register top-line growth when it reports first-quarter fiscal 2024 earnings on May 30. The Zacks Consensus Estimate for revenues is pegged at $2.72 billion, which suggests an increase of 3.2% from the prior-year quarter’s reported figure.However, the bottom line is likely to decline year over year. The consensus mark for quarterly earnings has decreased by 1 cent in the past seven days to $6.23 per share. This indicates a decline of 9.5% from the year-ago quarter’s reported figure. Nonetheless, ULTA has a trailing four-quarter earnings surprise of 3.4%, on average.
Factors to Note
Favorable trends in the beauty space keep Ulta Beauty well-positioned for the quarter under review. The company has been benefiting from healthy traffic trends, greater brand awareness and the expansion of its loyalty program. Ulta Beauty has been seeing market share gains in major beauty categories for a while now, with skincare standing out, thanks to consumers’ rising interest in self-care and the company’s focus on newness and innovation. Management’s transformational initiatives have also been yielding positively.The company’s focus on its six strategic priorities has been aiding. These include strengthening its omnichannel business, undertaking various tools to enhance the guest experience, providing customers with a curated and exclusive range of beauty products through innovation, deepening customer engagement by boosting rewards and loyalty programs and optimizing the cost structure.