On Thursday, Ulta Salon Cosmetics & Fragrance (ULTA) reported better-than-expected quarterly earnings and revenue. Investors liked the news, sending ULTA stock up more than 8% in Friday morning trading.
ULTA stock gained after the company posted a EPS of 1.09 for the fourth-quarter. Wall Street had forecast earnings of $1.07 per share of ULTA stock. Revenue for the quarter was $868.1 million, well above the $855.1 million that analysts had predicted, MarketWatch notes
The company said it anticipates first-quarter revenue of between $693 million and $704 million. Analysts are looking for revenue of $696 million during the first quarter. ULTA forecast first-quarter earnings of between 70 cents and 75 cents a share, lower than the 80 cents per share that analysts had estimated.
ULTA stock closed at $89.51 per share on Thursday. Over the past year, ULTA stock has gained about 1%.