This is How Kylie Jenner Helped Ulta Hit a New 52-Week High

Shares uf Ulta soared to a new 52-week hgih after announcing that Kylie Cosmetics would be in stores by the holidays.

Ulta had seen its shares drop in after-hours trading on Thursday when it reported second
quarter financial results that were mixed.

The strong rebound on Friday on the news of Kylie Cosmetics hitting stores exclusively before the holiday season helped the stock soar as much as 10%.

“Kylie Jenner is a highly influential force in the beauty industry,” Ulta CEO Mary Dillon said on the earnings call on Thursday. “This brand addition is yet another example of successful digitally native brands valuing a brick-and-mortar partnership with Ulta Beauty to extend their reach with consumers.”

Jenner tweeted, “I’m so excited to let you guys know that @KylieCosmetics will be coming to all @ultabeauty stores around the country this holiday!… More to come…”

For the second quarter, Ulta reported net income of $148.3 million, or $2.46 a share, compared with $114.2 million, or $1.83 per share, a year ago. Analysts were waiting for $2.41 EPS. Revenue was also inline with estimates at $1.49 billion, a growth of over 15%.

Sales at Ulta stores open for at least 12 months were up 6.5 percent which was behind the 6.9 percent that analysts waited for.

Looking ahead, Ulta has forecast earnings per share in a range of $2.11 to $2.16, compared with analysts’ consensus estimate of $2.31 a share for the third quarter. Same-store sales are predicted by Ulta to climb between 7 and 8 percent, which is inline with what analysts were calling for.

Disclaimer: We have no position in Ulta Beauty Inc. (NASDAQ: ULTA) and have not been compensated for this article.