Ulta Beauty, Inc. reported high-teen comparable sales growth in its fragrance category during the first quarter of fiscal 2026, contributing to an increase in total revenues from 11% to 12%. This growth is attributed to new offerings from luxury brands like YSL, Carolina Herrera, and Valentino, along with the successful introduction of Balmain and NOYZ’s Mylk de Parfum, which combines fragrance with skincare.
The company is actively investing in product innovation and enhancing the shopping experience, especially in anticipation of seasonal events such as Valentine’s Day and Mother’s Day. As a result, Ulta’s shares have decreased by 3.8% over the past year, compared to a 7.1% decline in the industry. The forward price-to-earnings ratio for Ulta is 15.23, higher than the industry average of 14.39, and the Zacks Consensus Estimate predicts an 11.8% increase in earnings year-over-year.
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