Ulta Raises Sales Forecast as Revenue Surges Above 2019 Levels

Ulta Beauty Inc. raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions.

The retail chain now sees sales of as much as $8.3 billion this year, Ulta said Wednesday, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of same-store sales will rise as much as 32%, versus a previous projection of 23% to 25%.