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Inside an Ulta retailer location in New York.
Scott Mlyn | CNBC
Ulta Magnificence shares tumbled Thursday after the retailer posted fourth-quarter gross sales and revenue that fell from the prior 12 months, harm by weaker gross sales of cosmetics throughout the pandemic.
The corporate additionally introduced that its CEO Mary Dillon will step down in June, and get replaced by its president, Dave Kimbell.
Dillon may also transition to govt chair of the corporate’s board.
Kecia Steelman, Ulta’s chief retailer operations officer, shall be promoted to chief working officer.
Ulta’s inventory sunk 9.5% after the bell.
This is what the corporate reported for its fourth quarter, in contrast with what Wall Road analysts anticipated, utilizing a survey from Refinitiv:
- Earnings per share: $3.41, adjusted vs. $2.35 anticipated
- Income: $2.2 billion vs. $2.08 billion anticipated
Ulta reported fiscal fourth-quarter internet revenue of $171.5 million, or $3.03 per share, in contrast with $222.7 million, or $3.89 per share, a 12 months earlier.
Excluding objects, Ulta earned $3.41 per share, topping the $2.35 per share anticipated by analysts surveyed by Refinitiv.
Web gross sales fell to $2.2 billion, beating expectations of $2.08 billion.
For fiscal 2021, Ulta expects to earn between $8.85 and $9.30 per share on income of $7.2 billion to $7.3 billion. The earnings forecast consists of the impression of about $850 million of inventory buybacks.
In November, Ulta introduced plans to open up small beauty outlets inside lots of of Goal shops throughout the nation with a view to obtain larger gross sales and increase its attain.
The cosmetics retailer has been harm by non permanent retailer closures throughout the pandemic. After reopening shops in July, the corporate noticed its demand return with a robust comeback in its cell app and e-commerce web site.
Learn the complete earnings launch right here.
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