Ulta Beauty stock fell nearly 5%, or $16.33, to $312.13 in early trading on Friday after the company posted first-quarter net income of $192.2 million, or $3.26 a share, vs. $164.4 million, or $2.70 a share, in the comparable year-earlier period.
Analysts polled by FactSet had been expecting earnings of $3.06 a share. Revenue rose to $1.74 billion from $1.54 billion a year ago.
For fiscal 2019, the company said it still expects per-share earnings in the range of $12.65 to $12.85 on total sales "in the low double digits percentage range." That includes comparable sales of about 6-7%, and e-commerce sales growth of roughly 20-30%.
Ulta Beauty is the largest U.S. retailer for cosmetics, fragrance, skin care products, hair care products and salon services.