Investing.com -- Ulta Beauty (NASDAQ:ULTA) reported first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Shares of Ulta jumped 6% in after-hours trading on Thursday after the report.
Ulta Beauty reported earnings per share of $6.28 on revenue of $2.35 billion. Analysts polled by Investing.com anticipated EPS of $4.44 on revenue of $2.12 billion.
The cosmetics and beauty retailer is seen as benefiting from the reopening trend, with people dressing up more, returning to work and going out more after two years of pandemic shut-ins.
Comparable store sales rose 18% from the same month last year, driven by a 10% increase in transactions and a 7% increase in the size of each sale.
"Solid execution of our strategies, paired with strong guest demand, fueled our financial performance and continued market share gains," said CEO Dave Kimbell.
Ulta Beauty shares are down 38.45% from the beginning of the year, still down 13.83% from the 52-week high of $438.63 set on April 21. They are underperforming the Nasdaq, which is down 24.96% from the start of the year.
Ulta Beauty follows other major Consumer Discretionary sector earnings this month
Ulta Beauty's report follows Amazon.com, which missed expectations on April 28 with first quarter losses of $7.56 a share on revenue of $116.44 billion, compared to forecast for EPS of $8.35 on revenue of $116.45 billion.
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