Ulta Beauty Q1 Earnings Preview: Positive Foot Traffic Data May Offset Concerns Over Same-Store Sales
Portfolio Pulse from Chris Katje
Ulta Beauty, Inc. (NASDAQ:ULTA) is set to report its Q1 financial results on May 30, 2024. Analysts expect revenue of $2.72 billion and earnings per share of $6.23, both lower than last year's figures. Despite strong foot traffic data, analysts have lowered their price targets for Ulta, citing concerns over same-store sales and moderated growth. Ulta's stock has declined 22.5% year-to-date.
May 29, 2024 | 7:35 pm
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Ulta Beauty is expected to report lower revenue and earnings per share for Q1 2024 compared to last year. Despite strong foot traffic data, analysts have lowered their price targets due to concerns over same-store sales and moderated growth.
The news highlights that Ulta is expected to report lower revenue and earnings per share compared to last year, which is generally negative for the stock. Additionally, multiple analysts have lowered their price targets, indicating a bearish sentiment. Despite positive foot traffic data, the concerns over same-store sales and moderated growth are likely to weigh on the stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100