Ulta Beauty Sinks 7% After Hours on Fiscal Q2 Misses and Weaker Forward Guidance
$Ulta Beauty (ULTA.US)$ fell some 7% after hours Thursday after the beauty-goods chain missed analyst estimates for fiscal Q2 revenues and earnings and cut its guidance for the fiscal year as a whole.
ULTA shed 6.8% to $342.70 shortly before 4:45 p.m. ET after the firm reported after the bell that it earned $5.30 per share on $2.552 billion of sales in the three months ended Aug. 3. That trailed the $5.55 earnings per share and $2.618 billion in sales that analysts' consensus estimate had reportedly called for.
Ulta also cut its guidance for the fiscal year as a whole to $22.60-$23.50 in EPS, down from an earlier $25.20-$26 estimate.
Management likewise guided net sales for the fiscal year as a whole to $11 billion-$11.2 billion, reducing its forecast from a previous $11.5 billion-$11.6 billion.
Ulta operates some 1,400 beauty-goods stores across the United States. Billionaire Warren Buffett's $Berkshire Hathaway-B (BRK.B.US)$ recently disclosed holding a new position in the company as of June 30.
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