Ulta Beauty重申乏善可陈的FY24指导

Shares of Ulta Beauty (NASDAQ:ULTA) retreated in Wednesday’s premarket trading and were down by more than 2.5% as the company doubled down on its lackluster guidance for fiscal 2024.

While losses have been mitigated by the company’s announcement of a $3B share repurchase agreement and plans to open more than 1,800 new stores over the long-term, investors’ focus has been on underwhelming targets for the remainder of the year, which includes negative to flat comparable sales growth.

In keeping with its guidance announced with Q2 results in late August, Ulta (ULTA) expects net sales for FY24 to be between $11.0B and $11.2B, which was lowered previously from the initial guidance of $11.5B to $11.6B. The midpoint of $11.1B is slightly shy of the $11.16B consensus estimate.

Earnings are expected to be within the range of $22.60 to $23.50, the midpoint of which is also below expectations.

At that time, the specialty retailer acknowledged the challenges it faces in the compromised consumer environment and accepted that Q2 results did not meet expectations. Looking forward, the cautious tone remains, but with a goal to achieve modest sales growth.

“While we expect 2024 and 2025 will be transitional years as we manage through near-term category dynamics, over the long term, we see additional opportunity to expand our leadership position,” CFO Paula Oyibo said in Wednesday’s statement.

To that end, Ulta’s (ULTA) goal for 2026 and beyond includes 4% to 6% of net sales growth and mid-single-digit operating profit growth, while targeting operating margins of around 12% of net sales and double-digit EPS growth.

Ulta (ULTA) will present its future goals and financial targets at an investor meeting Wednesday from 8:30am to 12pm Central Time. 

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