Shares of Ulta Salon Cosmetics & Fragrance Inc. surged 4.2% in premarket trade Thursday, after the cosmetics retailer raised its profit and sales outlook for the fiscal third-quarter ending October. The company now expects earnings per share of $1.35 to $1.38, up from a previous outlook of $1.25 to $1.30, and above the FactSet consensus of $1.30. The same-store sales growth forecast was raised to 14% to 15% from 11% to 13%, above the FactSet consensus of 12.6%. Looking ahead, Ulta confirmed that EPS will growth in the "low twenties" percentage range for fiscal 2017 through 2019, and now expects same-store sales growth during that period to be up 7% to 9%. The stock had soared 29% year to date through Wednesday, while the SPDR S&P Retail ETF had tacked on 1% and the S&P 500 had gained 4.7%.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.