ULTA LIFTS BUYBACK TO $1.8B ON EARNINGS BEAT

Ulta Beauty ($ULTA) raised its fiscal 2026 share buyback authorization to $1.8 billion from $1.5 billion after second-quarter diluted earnings per share jumped 13.3% to $6.55. The beauty retailer also lifted its full-year sales guidance, citing the Space NK acquisition and steady demand for fragrance and skincare. Management is putting more cash behind the stock just as the rest of the consumer discretionary sector struggles to grow.