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Ulta 2nd-Quarter Profit up 46% on Expansion, Same-Store Sales

4:25 PM ET 9/6/12 | Dow Jones

By Kristin Jones 

Ulta Salon Cosmetics & Fragrance Inc.'s (ULTA) fiscal second-quarter earnings rose 46%, as the beauty-products retailer benefited from its continued expansion and strong same-store sales. 

Shares jumped 8% in after-hours trading to $103. Through Thursday's close, the stock was up 47% so far this year. 

The company projected third-quarter profit of 54 cents to 56 cents a share, including four cents a share in expansion costs, on sales of $494 million to $503 million. Analysts polled by Thomson Reuters re cently expected per-share earnings of 54 cents a share, with $501 million in sales. 

The retailer, which sells makeup, perfume, and skin- and hair-care products, has posted double-digit earnings and revenue growth for the past three years, boosted by new store openings and growing same-store sales. The company also offers hair-salon services, and manicures, pedicures, massages and spa treatments. 

For the quarter ended July 28, Ulta posted a profit of $35 million, or 54 cents a share, up from $23.9 million, or 38 cents a share, a year earlier. Sales rose 22% to $481.7 million. 

The company in June had predicted per-share earnings of 49 cents to 51 cents, with sales of $466 million to $473 million for the latest quarter. 

Gross margin widened to 34.8% from 34%. 

The company opened 22 stores during the quarter, ending with 489. Square footage was up 18% from a year earlier. 

Same-store sales increased 9.3%. 

Write to Kristin Jones at kristin.jones@dowjones.com