Why Ulta Beauty Stock Dipped Today
Shares of Ulta Beauty (NASDAQ: ULTA) dipped on Friday after the company reported results for its fiscal fourth quarter after the closing bell Thursday, even though both the results and the guidance looked pretty good. As of 12:55 p.m. ET, Ulta Beauty stock was down by about 4.5%, but it had been off by as much as 11% earlier in the session.
In its fiscal 2023 Q4, which ended on Feb. 3, Ulta Beauty exceeded management's guidance with net sales of more than $3.5 billion, a 10% year-over-year increase. Sales rose due to both the opening of new stores and a 2.5% increase in same-store sales.
Ulta Beauty's operating income for the quarter also came in strong at $517 million. This was up 15.5% from the prior-year period and boosted its fiscal-year operating income to $1.7 billion. Importantly, this gave the company a fiscal-year operating margin of 15%, better than the 14.8% that had been the top of its margin guidance range.
Source Fool.com
