Ulta Beauty To Repurchase $3 Bln Shares, Backs Annual Guidance

(RTTNews) - Ulta Beauty, Inc. (ULTA), a beauty brands retailer, revealed on Wednesday that its Board has approved a new share repurchase authorization of $3 billion, which replaces the prior authorization implemented in March.

The new program has no expiration date but may be terminated by the Board at any time, the company noted.

Ulta Beauty reaffirmed its annual guidance and still expects to post annual net income per share of $22.60 to $23.50, on sales of $11- $11.2 billion.

The company also projects annual capital expenditure of $400 million to $450 million, while depreciation and amortization expenses will be $265 million to $270 million.