Ulta Beauty Inc. raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions.
The retail chain now sees sales of as much as $8.3 billion this year, Ulta said Wednesday, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of same-store sales will rise as much as 32%, versus a previous projection of 23% to 25%.
“We feel very confident in the path ahead,” Chief Executive Officer Dave Kimbell said in an interview. The beauty industry is “healthy and recovering at a pace faster than we anticipated.”