Ulta Beauty Q2 net sales $2.53B (+10.1% YoY), EPS $6.02; raises FY2023 outlook

Ulta Beauty, Inc.

2023-Q2 EPS reported $12.90 revenue$5,164,072,000

Comparable sales +8.0% vs +14.4% last year; transactions +9.0%, average ticket -1.0%.
Net income $300.1M ($6.02 diluted EPS) vs $295.7M ($5.70) a year ago.
Gross margin 39.3% vs 40.4% due to lower merchandise margin, higher shrink, and supply chain costs.
FY2023 guidance raised: net sales $11.05B-$11.15B, EPS $25.10-$25.60, comp sales 4.5%-5.5%.
Repurchased 593,629 shares for $275.5M in Q2; $541M remaining under $2B buyback program.

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