Ulta Beauty Q1 2017 Earnings Beat Wall Street Estimates

In it’s just released Q1 earnings report, Ulta Beauty has surpassed estimates from Wall Street.

Interestingly, Ulta has seen significant growth in both its online and in-store sales. While its e-commerce sales soared up 70.0 percent from $61 million in 2016 up to $104.3 million this year, its overall net income rose 39.4 percent up to $128.2 million.

The beauty chain’s same-store sales increased by 14.3 percent largely driven by its 8.7 transaction growth and 5.6 percent average ticket growth. As such, the retailer is looking to open up 100 new locations in 2017. Its shares also saw a six percent jump after the closing bell.

Ulta Beauty’s CEO, Mary Dillon, shared in the earnings call sharing how the company exceeded quarterly expectations. She said “The Ulta Beauty team kicked off 2017 with excellent performance in the first quarter. Strong execution of our growth strategies delivered above plan sales and earnings growth. Our results continued newness and innovation in merchandising, successful marketing programs, steady progress in our salon business and exceptional growth in e-commerce.”