Ulta Beauty booked higher net sales in the third quarter, reflecting contributions from new stores.

The beauty retailer’s net sales rose 1.7 per cent year over year to $2.53 billion amid the opening of 26 net new stores. Comparable sales for stores open at least 14 months and e-commerce sales increased 0.6 per cent.

However, net income fell 2.9 per cent to $242.2 million.

“The Ulta Beauty team delivered better-than-expected sales and profitability reflecting improved sales trends and strong financial discipline,” said Dave Kimbell, Ulta Beauty CEO.

“We remain confident that our model and strategies will drive long-term profitable growth and share leadership by enhancing our position as the destination for beauty enthusiasts for a lifetime.”

For the full year, the company forecasts net sales of $11.1 billion to $11.2 billion.