Ulta Salon, Cosmetics & Fragrences shares shoot up 17 percent Friday

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Shares of Ulta Salon, Cosmetics & Fragrances shot up 17 percent Friday.

Investors were encouraged because new products, expanded in-store boutiques and a strong loyalty program helped the company boost its fiscal second-quarter profit by 28 percent.

The company reported after the market closed Thursday that it earned $44.9 million, or 70 cents per share, for the quarter that ended Aug. 3. That’s up from $35 million, or 54 cents per share, in the second quarter last year. Revenue increased nearly 25 percent to $601 million from $481.7 million.

The results far exceeded market expectations. Analysts were anticipating earnings of 67 cents per share on revenue of $588.4 million.

Ulta said it expects to earn between 71 cents and 74 cents per share for its fiscal third quarter on revenue between $613 million and $623 million.

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THE STOCK

Ulta Salon  (ULTA)

Friday’s close:

$117.53 ▲ 17.37, or 17.34%

52-week range $73-$118

Price-earnings ratio * 40

Total return YTD 20%

3 year ** 63%

5 year** 53%

Market value $7.5 billion

Note: Total returns through Sept. 13

* Trailing 12 months; ** Annualized

Source: FactSet, Associated Press

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