Ulta Hangs Tough During the Holidays...

2009-01-09 | 07:23

but cuts earnings forecast for 1Q.

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA: News ) announced sales results for the seven-week holiday period. Total net sales for the seven-week holiday period were $221.9 million, a 10.0% increase from the prior year holiday period of $201.7 million.

Comparable store sales for the holiday period decreased 5.8%, as compared to a 4.6% increase during the same period in the prior year.

Looking ahead to the fourth quarter, the company reduced its sales guidance to the range of $339 million-$343 million, compared to previous guidance of $354 million-$368 million. The company also reduced its earnings guidance to the range of $0.18-$0.19 per share from previous guidance of $0.24-$0.28 per share.