Ulta Raises Full-Year Outlook Amid Robust Demand for Cosmetics and Hair Supplies

Ulta Beauty raised its full-year outlook after reporting Q3 results that beat expectations. The company now expects comparable sales to be up 4.7%, up from its previous guidance of 3.5%. Net sales rose 13%, driven by strong demand for cosmetics and its acquisition of Space NK. Ulta's CEO attributed the growth to consumers holding on to pandemic-driven skincare routines and newer trends like layering fragrances. The stock jumped 4.9% in extended trading.