RTTNews | Oct 19, 2021 08:18AM EDT

08:18 Tuesday, October 19, 2021 (RTTNews.com) - Ulta Beauty, Inc. (ULTA) announced its long-term financial targets for fiscal 2022 through 2024. It targets: low double-digit growth (CAGR) in earnings per share; and total net sales growth of 5% to 7% (CAGR). The company noted that the long-term targets denoted with CAGR represent the compounded annual growth rate utilizing 2019 as the base year. Comparable sales growth is projected 3% to 5% annually. The company plans to open 50 stores per year over the period.

At the virtual analyst and investor conference on Tuesday, the company will announce a new, multi-year cost savings target of $150 million to $200 million to fund investments in future growth initiatives.

Shares of Ulta Beauty were down 4% in pre-market trade on Tuesday.

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