In an analyst and investor conference today in which Ulta Beauty discussed its plans to double its market share over the next several years through new store expansion, e-commerce growing to a $1 billion business, higher store productivity and gaining greater share of wallet, the retailer raised its third quarter and fiscal year guidance. The retailer now expects comparable sales, including e-commerce sales, to increase 14 percent to 15 percent, compared to previous guidance of 11 percent to 13 percent.

Also discussed on the call were details on the company’s updated consumer segmentation study, revealing a larger opportunity to target beauty enthusiasts who represent 77 percent of spending in the beauty products market. The call also touched on recent brand launches, including Origins, Dior, Estèe Lauder, Proactiv and Shiseido in its skin care and cosmetics categories; Stash SJP fragrance; Honest Beauty hair care products and the much-anticipated new Dyson hair dryers. In addition, Ulta Beauty executives shared views on its new store model, including the cost to build a store and the sales ramp to maturity.

As a result of the better than expected performance in the third quarter to date, Ulta Beauty is also raising its previously announced fiscal 2016 guidance. For the full year, Ulta Beauty plans to achieve comparable sales growth of approximately 12 percent to 14 percent, including the impact of the e-commerce business, compared to previous guidance of 11 percent to 13 percent.

Stay tuned for more details from the call.