Ulta Beauty Lifts Annual Forecasts
Ulta Beauty raised its annual sales and profit forecasts after reporting a strong second-quarter revenue beat. Strong demand for prestige cosmetics and fragrances drove the growth. Consumers continued splurging on beauty products despite inflation.
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ULTA BEAUTY INC raised its annual sales and profit forecasts on Thursday evening after reporting a net sales increase of 8.9% to $3 billion in the second quarter. The cosmetics retailer beat Wall Street estimates on the strength of marketing investments and new product assortments across the United States.
