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Second quarter earnings jump 67%
September 5, 2008
By: TOM BRANNA
Specialty retailer Ulta Salon, Cosmetics & Fragrance Inc. has issued a third-quarter forecast and reiterated its full-year outlook after reporting its fiscal second-quarter earnings rose by 67%. The seller of beauty care products said it expects to earn 8-10 cents a share in its fiscal third quarter. Ulta Salon put third-quarter sales at $259-$263 million. It sees same-store sales, or sales at stores open at least 14 months, growing 3-5%. The company said it plans to open about 21 stores during the quarter. For the year, Ulta Salon still expects earnings of 52-57 cents a share, excluding severance costs of 1 cent a share booked in the first quarter. It also still sees sales of $1.12-$1.13 billion. The company expects to open 63 stores and remodel eight locations in fiscal 2008. It operates 283 retail stores across 34 states.
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