Ulta Raises the Annual Forecast as Consumers Continue to Spend Heavily on Cosmetics

Ulta raises the upper end of its full-year revenue forecast from $11.6 billion to $11.7 billion. Ulta Beauty raised its annual forecast following a first quarter revenue that surpassed expectations. Consumers continue to spend a lot on cosmetic products despite concerns about saving on non-essential purchases. The cosmetics and perfume retailer continued to gain market share in the first quarter Consumers are willing to cut back on spending in other areas of daily necessities before restricting their beauty care expenses, said CEO Kecia Steelman...