Ulta Beauty reports holiday comparable store sales increase of 12.6% in 2011, as compared to a 9.5% increase during the same period in the prior year. Over a two year period, comparable store sales increased 22.1%, according to the company.

Total net sales for the seven-week holiday period were $386.0 million, a 24.4% increase from the prior year holiday period of $310.4 million.The sales results are for the seven-week holiday period from November 13, 2011 to December 31, 2011. This time period corresponds with the Ulta’s holiday marketing initiatives and represents the seven full weeks beginning the week before Thanksgiving through the end of the week following Christmas.

“We delivered an excellent holiday season, with comparable store sales growth of 12.6% balanced across categories and brands, continuing our strong momentum from the first nine months of the year,” said Chuck Rubin, Ulta’s president and chief executive officer. “We believe, once again, that we gained market share across our major categories driven by our consistent ability to capitalize on current trends and introduce newness, elevate our guest experience with exciting in-store events and traffic-driving communications to our loyal customer base. This combined with our great value proposition and strong customer service led to another successful holiday season.”

Driven by favorable holiday sales and the better-than-expected performance, Ulta has raised its fourth quarter outlook and now expects to report full year fiscal 2011 diluted earnings per share in a range of $1.84 to $1.85, an increase of approximately 59% compared to fiscal year 2010. Ulta now expects fourth quarter fiscal 2011 net sales in the range of $574 million to $579 million, as compared to its previous guidance of $552 million to $562 million. Fourth quarter fiscal 2010 net sales were $473.7 million. Comparable store sales for the fourth quarter of fiscal 2011 are now expected to increase in a range of 10% to 11%. This compares to the Company’s previous expectation for comparable store sales to increase in a range of 6% to 8%.

Fourth quarter fiscal 2010 comparable sales increased 10.4%. This updated sales guidance range results in a two year comparable store sales increase of 20.4% to 21.4%. Income per diluted share for the fourth quarter of fiscal 2011 is now estimated in the range of $0.67 to $0.68, as compared to the Company’s previous guidance of $0.62 to $0.64, and actual fiscal 2010 income per diluted share was $0.49.