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Ulta "reopening" three stores

Posted by: Janet Moore under Retail Updated: May 17, 2012 - 5:56 PM

Ulta, the beauty and hair care store and salon chain, says it is “reopening” three stores in Minnesota — in Woodbury, Maple Grove and Coon Rapids.


The Illinois-based company will celebrate the rehabbed stores by offering free gifts, makeovers and consultations Friday through Sunday. Honestly, what else could one wish for?


Gift certificates will be given to the first 100 guests visiting each of the aforementioned stores. Doors open at 9 a.m.

The Woodbury store is located in the Tamarack Shopping Center; at the Shoppes at Arbor Lakes in Maple Grove; and at Riverdale Village in Coon Rapids.


Some may scoff, but beauty is big business. Ulta estimates that the beauty products and salon services industry represent about $93 billion in annual retail sales — $53 billion of which is devoted to products such as cosmetics, fragrance, bath and body, skincare and other amenities, and $40 billion of which includes hair, face and nail salon services.


Ulta recently raised its fiscal first-quarter projections for earnings per share and net sales. Now, it expects quarterly earnings of 52 to 53 cents a share, up from previous guidance of 46 to 48 cents. The company is now projecting sales of $474 million in the quarter, an increase from its previous guidance of $452 million to $460 million. That’s close to a 23 percent increase.


And, same-store sales — a key measure in retail tracking stores open at least a year — are expected to increase 10 percent in the quarter.


Ulta will report results June 5.
 

Janet Moore is a business reporter for the Star Tribune.

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