盘后股价大跌超8%！Ulta美容产品公司年度利润展望不及预期

Core Viewpoint - Ulta Beauty's stock price fell approximately 8% after hours despite reporting stronger-than-expected fourth-quarter results, primarily due to its earnings guidance being slightly below Wall Street expectations [1]. Financial Performance - For fiscal year 2027, Ulta projects earnings per share between $28.05 and $28.55, while analysts had anticipated $28.57 [3]. - The company forecasts net sales growth of 6% to 7% and earnings growth of approximately 9.4% to 11.4% [3]. - In the fourth quarter, Ulta reported earnings per share of $8.01, surpassing analyst expectations of $7.93, with revenue reaching $3.9 billion, exceeding the forecast of $3.81 billion [3]. Sales and Growth Metrics - Comparable sales increased by 5.8%, driven by a 4.2% rise in average transaction value and a 1.6% increase in transaction volume [3]. - Net sales grew by 11.8% year-over-year, supported by comparable sales growth, the acquisition of Space NK, and the opening of new stores [3]. Profitability and Costs - Gross profit rose by 11.2% to $1.5 billion, although gross margin slightly declined from 38.2% in the same period last year to 38.1% [3]. - The company indicated that profit margins were pressured by an unfavorable sales mix and higher store-related costs, partially offset by lower inventory shrinkage and improved supply chain efficiency [3]. - Selling, general, and administrative expenses increased by 23% to $1 billion, primarily driven by higher corporate management costs related to strategic investments, increased advertising spending, and higher incentive compensation [3].