Why Ulta Beauty Stock Jumped Today
Shares of Ulta Beauty (NASDAQ: ULTA) popped 12.5% on Friday after the cosmetics retailer's earnings came in far above investors' expectations.
Ulta's net sales climbed 21% year over year to $2.3 billion in its fiscal first quarter, which ended on April 30.
Traffic rose 10% as people returned to the beauty-focused company's stores after coronavirus-related restrictions were lifted. Additionally, Ulta's average ticket price increased by 7.3%, as shoppers spent more during their visits. Together, this drove an 18% rise in Ulta's comparable sales.
Source Fool.com
