Shares of Ulta Beauty Inc. (NASDAQ:ULTA) were lower after the company reported second quarter results which showed higher net income but with slower comparable-store sales gowth.
The beauty product retailer said net income in the second quarter ending July 29 was US$114 million or $1.83 a share, up from US$90 million or $1.43 a share in the corresponding period last year.
Sales rose 21% to US$1.29bn from US$1.07bn while comparable-store sales rose 12%, slower than the 14% rise in the second quarter of 2016.
Looking ahead, the company said comparable sales for the third quarter of 2017, including e-commerce sales, are expected to increase 9% to 11%. The company reported a comparable sales increase of 16.7% in the third quarter of 2016.
Ulta said it expects net sales in the range of US$1.33bn to US$1.35bn in the third quarter, up from US$1.13bn in the third quarter of fiscal 2016.
Shares in the NASDAQ-listed company were down 7.6% at US$233.71