Ulta Beauty, a retail cosmetics chain reported higher than expected earnings per share and fourth-quarter earnings, which excited investors and pushed its shares up nearly 4 percent in premarket trading on Friday, CNBC said.
According to a press release, Ulta plans to open nearly 80 new stores and remodel or relocate about 20 more. It also announced it will no longer offer a quarterly outlook, but update its annual one, on a quarterly basis.
The company’s earnings report also showed rapid expansion, with 100 new stores opened since the beginning of the first quarter, bringing it to 1,174 to date.
According to Barron’s, Kylie Jenner is partly to blame for the retailer’s success. In November, last year, Jenner’s one online-only cosmetics brand, Kylie Cosmetics, was brought to Ulta. In a conference call on Thursday night, reported Barron’s, CEO Mary Dillon said that Kylie Cosmetics sold very well, drove store traffic, and diversified Ulta’s clientele.
In other words, as Kylie becomes more successful, so does Ulta. Sadly, the company will see a deduction of $8.99 from its revenues soon – I will return a makeup remover I recently purchased. Maybe I’ll get a lip kit instead.