Ulta Shares Rally On Earnings Beat, Raised Outlook

Ulta Salon Cosmetics & Fragrance Inc. shares rallied in the extended session Thursday after the cosmetics retailer topped Wall Street estimates for the quarter and raised its outlook. Ulta shares surged 4.7% to $269.50 after hours. The company reported third-quarter earnings of $1.40 a share on revenue of $1.13 billion. Analysts surveyed by FactSet had forecast $1.37 a share on revenue of $1.11 billion. For the fourth-quarter, Ulta said it expects earnings of $2.08 to $2.13 a share on revenue of $1.52 billion to $1.54 billion. Analysts estimate $2.05 a share on revenue of $1.51 billion.