04:48 PM EDT, 08/29/2024 (MT Newswires) -- Ulta Beauty ( ULTA ) reported fiscal Q2 earnings late Thursday of $5.30 per diluted share, down from $6.02 a year earlier.

Analysts polled by Capital IQ expected $5.45.

Net sales for the 13 weeks that ended Aug. 3 were $2.55 billion, up from $2.53 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.61 billion.

The company now expects full-year earnings of $22.60 to $23.50 per share, compared with its previous outlook of $25.20 to $26.00. Analysts surveyed by Capital IQ expect $25.27.

The firm now expects full-year net revenue of $11.0 billion to $11.2 billion, versus its prior projections of $11.5 billion to $11.6 billion. Analysts polled by Capital IQ expect $11.5 billion.

Shares of the company traded about 7% lower in after-hours activity.

Price: 341.90, Change: -25.68, Percent Change: -6.99