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ULTA · Ulta Beauty

50 filings

10-Q

ULTA 10-Q Quarterly Reports

Ulta Beauty - 50 quarterly reports

Filing record · 2016–202610-K1110-Q328-K92

ULTA filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 92 current reports (8-K) between 2016 and 2026.

  1. FY2019 annual report10-K · Apr ’19Apr ’19
  2. Leadership change8-K · Jan ’22Jan ’22
  3. Leadership change8-K · Oct ’25Oct ’25
  1. 2027-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 1, 2026

    Ulta Beauty, Inc. reported net sales of $3,035,676 thousand ($3.0 billion) for the 13 weeks ended August 1, 2026, up from $2,788,469 thousand, with net income of $282,006 thousand compared to $260,875 thousand in the prior-year quarter. Diluted earnings per share were $6.55 versus $5.78. For the 26 weeks ended August 1, 2026, net sales were $6,199,533 thousand ($6.2 billion) and net income was $622,475 thousand, with diluted EPS of $14.31 versus $12.49. Comparable sales rose 3.8% in the quarter and 4.6% for the first half, driven primarily by a 3.9% increase in average ticket in the quarter. Gross margin was 39.1% in the quarter, slightly below 39.2% a year earlier, while the six-month gross margin improved to 39.6% from 39.1%, which the filing attributes to lower inventory shrink and higher merchandise margin. The company repurchased 1,438,761 shares for $798.6 million in the first half of fiscal 2026 under its $3.0 billion October 2024 program, leaving $1.0 billion available as of August 1, 2026. Short-term debt rose to $339.6 million from $62.3 million at January 31, 2026, and cash and cash equivalents plus short-term investments totaled $213.5 million. Operating cash flow was $381,590 thousand for the 26 weeks, against $316,543 thousand a year earlier, while capital expenditures were $139.5 million. The filing notes that the lower effective tax rate of 24.2% for the first half reflects the purchase of transferable federal tax credits at a negotiated discount. At August 1, 2026, the company operated 1,622 stores, including 1,534 Ulta Beauty stores in the U.S. and 88 Space NK stores in the U.K. and Ireland. The company stated it was in compliance with all terms and covenants of its Loan Agreement and Facility Agreement, and it reported no material changes to risk factors from its fiscal 2025 Form 10-K.

    Aug 27, 2026
  2. 2027-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 2, 2026

    Ulta Beauty, Inc. reported net sales of $3,163,857 thousand ($3.2 billion) for the 13 weeks ended May 2, 2026, up from $2,848,367 thousand for the 13 weeks ended May 3, 2025, with the filing attributing the increase primarily to higher comparable sales, the acquisition of Space NK, and new stores. Comparable sales rose 5.3%, driven by a 3.7% increase in average ticket and a 1.6% increase in transactions. Gross profit rose to $1,267,620 thousand, and gross margin improved to 40.1% from 39.1%, which the company attributed to lower inventory shrink and higher merchandise margin. Net income was $340,469 thousand, compared with $305,052 thousand a year earlier, and diluted EPS was $7.74 versus $6.70. SG&A expenses rose to $814,699 thousand, or 25.8% of net sales versus 24.9%, mainly reflecting the Space NK acquisition and corporate overhead deleverage from strategic enterprise investments. The effective tax rate fell to 23.9% from 24.6%, primarily due to the purchase of transferable federal tax credits at a negotiated discount. Operating cash flow was $261,894 thousand, versus $220,021 thousand a year earlier, while the company repurchased 958,323 shares for $560.3 million under its October 2024 program, leaving $1.3 billion available. Cash and cash equivalents fell to $166.3 million, and borrowings under credit facilities rose to $144.9 million from $62.3 million at January 31, 2026. The filing reports 1,608 stores at quarter-end, including 19 openings in the quarter, and total inventories of $2.39 billion, up from $2.18 billion at fiscal year-end. Management stated there were no material changes to risk factors from the Form 10-K for the year ended January 31, 2026, and concluded disclosure controls were effective.

    Jun 2, 2026
  3. 2026-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 1, 2025

    Ulta Beauty, Inc. reported its third-quarter fiscal 2025 results for the 13 weeks ended November 1, 2025 in this Form 10-Q, filed December 4, 2025. Net sales rose $327.5 million, or 12.9%, to $2.9 billion, driven by a comparable sales increase of 6.3%, the acquisition of Space NK, and net new store contribution. Net income declined to $230.9 million from $242.2 million, as SG&A expenses rose $158.7 million, or 23.3%, to $840.9 million, outpacing the $150.0 million increase in gross profit. Gross margin improved to 40.4% of net sales from 39.7%, mainly on lower inventory shrink and higher merchandise margin. For the 39 weeks ended November 1, 2025, net sales increased $686.4 million, or 8.8%, to $8.5 billion, and net income was $796.8 million compared with $807.8 million a year earlier. Cash from operating activities was $322.2 million, while the company spent $655.5 million in investing activities, including $386.8 million for the Space NK acquisition. Short-term debt rose to $551.7 million from none at fiscal year-end, and cash and cash equivalents fell to $204.9 million from $703.2 million. The company repurchased $699.1 million of common stock in the 39-week period, and $2.0 billion remained available under the October 2024 repurchase program. The filing states that macroeconomic pressures, including inflation and tariffs, could continue to weigh on consumer spending and sales trends for the remainder of fiscal 2025. The company's Interim Chief Financial Officer concluded that disclosure controls were effective as of November 1, 2025, and the filing reports no material changes to risk factors from the fiscal 2024 Form 10-K.

    Dec 4, 2025
  4. 2026-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 2, 2025

    Ulta Beauty, Inc. reported its second quarter of fiscal 2025 (13 weeks ended August 2, 2025) with net sales of $2.79 billion, up from $2.55 billion a year earlier, and net income of $260.9 million, up from $252.6 million. Comparable sales rose 6.7%, driven by a 3.7% increase in transactions and a 2.9% increase in average ticket. Gross profit margin improved to 39.2% from 38.3%, primarily due to lower inventory shrink and higher merchandise margin, while SG&A expenses rose to 26.6% of net sales from 25.3%, mainly from higher incentive compensation, store payroll and benefits, and corporate overhead. Diluted EPS was $5.78 versus $5.30. The company completed its acquisition of Space NK, a U.K. and Ireland luxury beauty retailer, on July 10, 2025, for net assets acquired of $399.2 million, including $381.7 million of goodwill. Cash and cash equivalents fell to $242.7 million from $703.2 million at fiscal year-end, while short-term debt rose to $289.1 million. Merchandise inventories increased to $2.41 billion from $1.97 billion, and the company repurchased 1.23 million shares for $472.4 million during the 26 weeks. Approximately $2.2 billion remained available under the October 2024 repurchase program. Subsequent to quarter-end, Ulta and Target Corporation mutually agreed not to renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026. The company also entered into Amendment No. 4 to its loan agreement on August 27, 2025, increasing the revolving facility by $200 million to a maximum of $1.0 billion. Management noted that persistent inflation and tariffs could contribute to lower sales trends throughout fiscal 2025.

    Aug 28, 2025
  5. 2026-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 3, 2025

    Ulta Beauty, Inc. reported net sales of $2,848,367 thousand ($2.85 billion) for the 13 weeks ended May 3, 2025, up from $2,725,848 thousand in the prior-year period, with the filing stating net sales increased $122.5 million or 4.5%. Comparable sales rose 2.9%, driven by a 2.3% increase in average ticket and a 0.6% increase in transactions. Operating income was $401,777 thousand versus $400,948 thousand a year earlier, and net income declined to $305,052 thousand from $313,113 thousand. Diluted EPS was $6.70 compared with $6.47 in the prior-year quarter, reflecting a lower share count after repurchases. Gross margin was 39.1% versus 39.2%, and SG&A rose to 24.9% of net sales from 24.4%, attributed to store payroll and store expense deleverage. Cash and cash equivalents fell to $454.6 million from $703.2 million at February 1, 2025. Operating cash flow was $220.0 million, while the company repurchased $362.1 million of common stock including excise tax in the quarter, leaving $2.3 billion available under the October 2024 $3.0 billion authorization. The credit facility had no borrowings outstanding, and the company was in compliance with its covenants. Merchandise inventories increased 11.3% year over year to $2.1 billion, which the filing attributes to new brand launches and the addition of 56 net new stores since May 4, 2024. The company operated 1,451 stores at quarter end. Management cited persistent inflationary and macroeconomic pressures, including existing and potential tariffs, and stated these could contribute to lower sales trends throughout fiscal 2025. The effective tax rate rose to 24.6% from 23.2%, primarily due to a reduced benefit from stock-based compensation tax accounting. The filing reports no material changes to risk factors from the fiscal 2024 Form 10-K.

    May 29, 2025
  6. 2025-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 2, 2024

    Ulta Beauty, Inc. reported its Form 10-Q for the 13 and 39 weeks ended November 2, 2024. For the third quarter, net sales were $2,530,100 thousand ($2.53 billion), up from $2,488,933 thousand, and net income was $242,179 thousand ($242.2 million), down from $249,483 thousand. Diluted EPS was $5.14 versus $5.07. Comparable sales rose 0.6%, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket. Gross profit as a percentage of net sales fell to 39.7% from 39.9%, and SG&A rose to 27.0% of net sales from 26.6%, citing deleverage of store payroll and corporate overhead tied to strategic investments. For the 39 weeks, net sales were $7.81 billion, up from $7.65 billion, and net income was $807.8 million, down from $896.6 million. Comparable sales increased 0.3%, and SG&A expenses rose 6.3% to $2.0 billion. Operating cash flow was $302.0 million versus $358.0 million a year earlier. Cash and cash equivalents fell to $177.8 million at November 2, 2024, from $766.6 million at February 3, 2024, while short-term debt under the credit facility was $199.7 million, with no borrowings at fiscal year-end. During the period the company repurchased 1,869,314 shares for $771.5 million. In October 2024 the Board authorized a new program of up to $3.0 billion, with $2.9 billion remaining as of November 2, 2024. The company operated 1,437 stores at quarter end, opening 57 new stores in the 39 weeks, and it reported no material changes to risk factors from its fiscal 2023 Form 10-K.

    Dec 5, 2024
  7. 2025-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 3, 2024

    Ulta Beauty, Inc. reported its second quarter of fiscal 2024 (13 weeks ended August 3, 2024) with net sales of $2.55 billion, up $22.3 million, or 0.9%, from $2.53 billion a year earlier. Comparable sales declined 1.2%, driven by a 1.8% decrease in transactions partly offset by a 0.6% increase in average ticket. Gross profit fell $15.4 million, or 1.6%, to $978.2 million, and gross margin compressed to 38.3% from 39.3%, reflecting lower merchandise margins and store fixed-cost deleverage. SG&A rose $44.1 million, or 7.3%, to $644.8 million, pushing operating income down to $329.2 million from $391.6 million and net income to $252.6 million from $300.1 million. For the 26 weeks, net sales rose 2.2% to $5.3 billion and comparable sales increased 0.2%, but net income declined to $565.7 million from $647.2 million, as SG&A growth of $97.9 million outpaced sales gains. Management attributed the SG&A increase to strategic investments in corporate overhead, store payroll, and marketing. The company ended the period with $414.0 million in cash, no borrowings under its credit facility, and merchandise inventories of $2.0 billion, up 10.1% from a year earlier. Cash flow remained sizable, with operating cash flow of $358.9 million for the first 26 weeks, against $186.3 million in capital expenditures. Ulta repurchased $501.8 million of common stock in the period, and $1.6 billion remained under its 2024 $2.0 billion repurchase authorization. The company operated 1,411 stores as of August 3, 2024, and management stated that macroeconomic and inflationary pressures may continue to weigh on consumer spending.

    Aug 29, 2024
  8. 2025-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 4, 2024

    Ulta Beauty, Inc. reported net sales of $2,725,848 thousand ($2.7 billion) for the 13 weeks ended May 4, 2024, up from $2,634,263 thousand in the prior-year quarter, with the filing stating an increase of $91.6 million or 3.5%. Comparable sales rose 1.6%, driven by a 1.3% increase in transactions and a 0.3% increase in average ticket. Gross profit increased to $1.07 billion, but gross margin declined to 39.2% of net sales from 40.0%, which the company attributed primarily to lower merchandise margins and higher inventory shrink. Profitability declined year over year. SG&A expenses rose $53.8 million, or 8.8%, to $665.9 million, reflecting higher corporate overhead for strategic investments, higher store payroll and benefits, and higher store expenses. Operating income fell to $400,948 thousand from $442,070 thousand, and net income decreased to $313.1 million from $347.1 million. Diluted earnings per share were $6.47 versus $6.88 a year earlier. Cash generated from operations fell to $159.3 million from $304.9 million, and cash and cash equivalents ended the quarter at $524.6 million. The company repurchased 588,004 shares for a total cost of $287.4 million during the quarter and, in March 2024, authorized a new $2.0 billion share repurchase program, with $1.8 billion remaining as of May 4, 2024. The revolving credit facility, amended in March 2024 and maturing in 2029, had no outstanding borrowings. The store count reached 1,395, up from 1,359 a year earlier.

    May 30, 2024
  9. 2024-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 28, 2023

    Ulta Beauty, Inc. reported its Form 10-Q for the 13 and 39 weeks ended October 28, 2023. For the third quarter, net sales rose to $2.49 billion from $2.34 billion, and comparable sales increased 4.5%, driven by a 5.9% increase in transactions and a 1.4% decrease in average ticket. Net income declined to $249.5 million from $274.6 million, primarily because SG&A expenses increased $64.2 million, partly offset by a $29.3 million increase in gross profit. Gross margin fell to 39.9% from 41.2%, citing lower merchandise margin, higher inventory shrink, and higher supply chain costs. For the 39 weeks, net sales reached $7.65 billion, up from $6.98 billion, with comparable sales up 7.3%. Net income was $896.6 million versus $901.7 million a year earlier, and diluted EPS was $17.99 compared with $17.35. Operating cash flow was $358.0 million, down from $573.4 million, mainly due to a $717.9 million increase in merchandise inventories. Cash and cash equivalents fell to $121.8 million, while $195.4 million was drawn on the credit facility at a weighted average rate of 8.21%. The company repurchased $848.4 million of common stock during the 39 weeks under its $2.0 billion authorization, leaving $259.4 million available as of October 28, 2023. The filing states that the company operated 1,374 stores and that there have been no material changes to the risk factors in its Form 10-K for the year ended January 28, 2023. Management concluded that disclosure controls and procedures were effective.

    Nov 30, 2023
  10. 2024-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 29, 2023

    Ulta Beauty, Inc. reported its second quarter of fiscal 2023 (13 weeks ended July 29, 2023) with net sales of $2.53 billion, up $232.7 million or 10.1% from $2.30 billion a year earlier, driven by a comparable sales increase of 8.0%, strong new store performance, and higher other revenue. Net income rose to $300.1 million from $295.7 million, and diluted earnings per share were $6.02 versus $5.70. Gross profit margin fell to 39.3% from 40.4%, reflecting lower merchandise margin, higher inventory shrink, and higher supply chain costs, while SG&A rose to 23.7% of net sales from 23.3%, driven by corporate overhead tied to strategic investments. For the 26 weeks ended July 29, 2023, net sales were $5.16 billion, up 11.2%, with comparable sales up 8.7%, and net income of $647.2 million compared with $627.1 million. Operating cash flow was $428.8 million versus $540.7 million a year earlier, mainly due to the timing of payables and accrued liabilities and a larger inventory build. Capital expenditures rose to $204.7 million from $120.5 million, and share repurchases totaled $559.0 million in cash flow terms during the period. Cash and cash equivalents ended the quarter at $388.6 million, and the company had no borrowings outstanding under its $1.0 billion revolving credit facility, which matures March 11, 2025. The company operated 1,362 stores across 50 states as of July 29, 2023, up from 1,325 a year earlier, and management reported no material changes to risk factors from its fiscal 2022 Form 10-K. The 2022 Share Repurchase Program authorizes up to $2.0 billion of common stock repurchases, and $540.956 million remained available under it at quarter end.

    Aug 24, 2023
  11. 2024-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 29, 2023

    Ulta Beauty, Inc. reported results for the 13 weeks ended April 29, 2023 in its first-quarter Form 10-Q. Net sales rose to $2,634.3 million from $2,345.9 million, an increase of $288.4 million or 12.3%, driven by a total comparable sales increase of 9.3% (11.0% growth in transactions, offset by a 1.5% decrease in average ticket). Gross profit increased to $1,054.9 million, but gross margin slipped to 40.0% from 40.1%, reflecting higher inventory shrink, lower merchandise margins, higher supply chain costs and salon deleverage, partly offset by growth in other revenue. Net income was $347.1 million, or $6.88 per diluted share, compared with $331.4 million, or $6.30 per diluted share, a year earlier, helped by $7.3 million of net interest income and a lower effective tax rate of 22.8% versus 24.2%. SG&A expenses rose 22.2% to $612.1 million, or 23.2% of net sales versus 21.4%, driven by store payroll and benefits, corporate overhead tied to strategic investments, and marketing. The company ended the quarter with 1,359 stores, up from 1,318, and $636.4 million in cash with no borrowings under its credit facility. Operating cash flow was $304.9 million, down from $426.3 million, mainly due to a larger inventory build. Merchandise inventories rose 11.5% to $1.75 billion, and the company repurchased $285.8 million of common stock under its $2.0 billion 2022 Share Repurchase Program. Management stated that inflation did not materially affect sales in the quarter but warned that continued inflation or a recession could pressure consumer spending and margins. The filing reports no material changes to risk factors from the fiscal 2022 Form 10-K and no material changes to internal control over financial reporting.

    May 25, 2023
  12. 2023-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 29, 2022

    Ulta Beauty, Inc. reported results for the 13 and 39 weeks ended October 29, 2022 in its Form 10-Q filed December 1, 2022. For the third quarter, net sales rose $343.0 million, or 17.2%, to $2.3 billion, driven by comparable sales growth of 14.6%, which reflected a 10.7% increase in transactions and a 3.5% increase in average ticket. Gross profit increased 22.0% to $962.8 million, with gross margin rising to 41.2% from 39.6%. Net income increased 27.5% to $274.6 million, or $5.34 per diluted share, compared with $215.3 million a year earlier. For the 39 weeks, net sales increased 18.3% to $7.0 billion, comparable sales rose 15.6%, and net income increased 29.5% to $901.7 million. SG&A expenses rose 15.7% to $1.6 billion, though as a percentage of net sales they declined to 23.4% from 23.9%, mainly due to lower marketing expenses. Operating cash flow was $573.4 million for the period, and the company repurchased $571.9 million of common stock. Cash and cash equivalents fell to $250.6 million, and the company had no borrowings outstanding under its $1.0 billion credit facility. Merchandise inventories rose to $2.11 billion, and $1.4 billion remained available under the 2022 Share Repurchase Program. Management cited strategic investments in corporate overhead and store payroll as sources of SG&A deleverage, and noted that inflation had not materially affected sales year to date, while warning that continued inflationary pressure could affect consumer spending and margins. The company also implemented a new enterprise resource planning system in the third quarter of 2022.

    Dec 1, 2022
  13. 2023-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 30, 2022

    Ulta Beauty, Inc. reported net sales of $2.30 billion for the 13 weeks ended July 30, 2022, up $329.9 million or 16.8% from $1.97 billion a year earlier, with comparable sales up 14.4%, driven by a 8.3% increase in transactions and a 5.6% increase in average ticket. Gross profit rose $130.2 million or 16.3% to $928.2 million, though gross margin slipped to 40.4% from 40.6% due to lower merchandise margin and higher inventory shrink. Operating income was $391.4 million and net income was $295.7 million, or $5.70 per diluted share, versus $250.9 million a year earlier. For the 26 weeks ended July 30, 2022, net sales were $4.64 billion, up 18.9%, with comparable sales up 16.2% and net income of $627.1 million, or $12.00 per diluted share. Gross margin improved to 40.3% from 39.7%, supported by leverage of fixed costs, growth in other revenue and channel mix shifts. The company ended the quarter with $434.2 million in cash, no borrowings under its credit facility, and $1.67 billion of merchandise inventories, up $222.4 million or 15.4% from a year earlier. Capital allocation remained active: the company repurchased $434.4 million of common stock in the first half, and $1.57 billion remained under the $2.0 billion 2022 Share Repurchase Program authorized in March 2022. Capital expenditures rose to $120.5 million from $57.3 million, and the company opened 17 new stores and relocated 10 during the period. The filing states that no material changes were made to risk factors and that management views the pandemic, geopolitical events and inflationary cost pressures as continuing uncertainties.

    Aug 25, 2022
  14. 2023-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 30, 2022

    Ulta Beauty, Inc. reported its first quarter of fiscal 2022 (13 weeks ended April 30, 2022) with net sales of $2,345,901 thousand, up from $1,938,519 thousand in the prior-year quarter. Gross profit rose to $941,026 thousand, from $753,788 thousand, and the gross margin widened to 40.1% of net sales from 38.9%. Operating income increased to $437,708 thousand from $305,324 thousand, and net income reached $331,395 thousand, or $6.30 per diluted share, compared with $230,289 thousand, or $4.10 per diluted share, a year earlier. The filing attributes the sales increase primarily to fewer COVID-19 restrictions in the U.S., and reports comparable sales growth of 18.0%, driven by a 10.0% increase in transactions and a 7.3% increase in average ticket. The balance sheet strengthened over the period. Cash and cash equivalents were $654,486 thousand at April 30, 2022, up from $431,560 thousand at January 29, 2022, and merchandise inventories were $1,570,552 thousand, compared with $1,499,218 thousand at year-end. The company had no borrowings outstanding under its credit facility. Operating cash flow was $426,303 thousand, and capital expenditures were $71,076 thousand. The company repurchased $132,834 thousand of common stock during the quarter. In March 2022, the Board authorized a new share repurchase program of up to $2.0 billion, with $1.9 billion remaining available as of April 30, 2022. Management cited ongoing risks, including COVID-19 variants, geopolitical events, and inflationary cost pressures, and noted that inflation had not had a material impact on results to date. The company opened 10 new stores and relocated six during the quarter, ending with 1,318 stores. Management also stated that there were no material changes to the risk factors disclosed in its Annual Report on Form 10-K for the year ended January 29, 2022.

    May 26, 2022
  15. 2022-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 30, 2021

    Ulta Beauty, Inc. reported a strong third quarter of fiscal 2021, ended October 30, 2021. Net sales rose $443.7 million, or 28.6%, to $2.0 billion from $1.6 billion, and comparable sales increased 25.8%, driven by transactions up 16.8% and average ticket up 7.7%. Gross profit grew to 39.6% of net sales from 35.1%, and net income reached $215.3 million, or $3.94 per diluted share, compared with $74.8 million, or $1.32 per diluted share, a year earlier. The company recorded no impairment, restructuring or other costs in the quarter, compared with $23.6 million in the prior-year period. For the 39 weeks, net sales were $5.9 billion versus $4.0 billion, and net income was $696.5 million versus $4.3 million. The filing attributes the improvement to stronger consumer confidence, government stimulus payments and the easing of COVID-19 restrictions. Operating cash flow was $414.9 million for the 39 weeks, up from $259.0 million, and capital expenditures were $108.4 million. Cash and cash equivalents stood at $605.1 million at quarter end, down from $1.0 billion at fiscal year-end, as the company repurchased $762.2 million of common shares. Merchandise inventories rose $477.2 million, or 33.2%, to $1.92 billion, which the filing attributes to 40 net new stores and accelerated inventory receipts to mitigate anticipated global supply chain disruptions. The balance sheet remained debt-free, with no borrowings outstanding under the $1.0 billion revolving credit facility, and the company was in compliance with its loan covenants. As of October 30, 2021, $759.8 million remained available under the 2020 Share Repurchase Program. The company operated 1,302 stores in 50 states, and management stated that all stores, salons and brow service offerings were open, with skin and make-up services resumed in select locations during the third quarter.

    Dec 2, 2021
  16. 2022-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 31, 2021

    Ulta Beauty, Inc. reported strong second-quarter fiscal 2021 results for the 13 weeks ended July 31, 2021. Net sales rose to $1,967.2 million from $1,228.0 million a year earlier, and comparable sales increased 56.3%, driven by transactions up 52.5% and average ticket up 2.5%. Gross profit was $798.0 million, or 40.6% of net sales, versus 26.8% in the prior-year quarter, reflecting leverage of fixed costs, improved merchandise margins, and favorable channel mix. Net income was $250.9 million, or $4.56 per diluted share, compared with $8.1 million, or $0.14 per diluted share, in the prior-year period, which included $40.8 million of impairment, restructuring and other costs. No such charges were recognized in the current quarter. For the 26 weeks, net sales were $3.91 billion, up from $2.40 billion, with net income of $481.2 million versus a net loss of $70.5 million. SG&A expenses rose to 23.3% of net sales from 27.2%, reflecting leverage in corporate overhead and store expenses, partly offset by higher store payroll and lower employee retention credits under the CARES Act. The company ended the quarter with $770.1 million of cash and cash equivalents, no borrowings under its credit facility, and $635.8 million spent repurchasing 1,989,576 shares in the first half, leaving $0.9 billion available under the 2020 Share Repurchase Program. Management stated that all stores, salons and brow service offerings were open as of July 31, 2021, and that the company operated 1,296 stores. It noted that COVID-19 continues to pose uncertainty, including possible store reclosures and supply chain disruptions, and that the first-half sales increase was driven by consumer confidence, government stimulus payments and easing restrictions.

    Aug 25, 2021
  17. 2022-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 1, 2021

    Ulta Beauty, Inc. reported results for the 13 weeks ended May 1, 2021 (first quarter of fiscal 2021). Net sales rose to $1,938,519 thousand ($1.94 billion) from $1,173,210 thousand ($1.17 billion), an increase the filing describes as 65.2%, driven primarily by improving consumer confidence, government stimulus payments and the easing of COVID-19 restrictions. Comparable sales increased 65.9%, comprising a 52.5% increase in transactions and an 8.8% increase in average ticket. Gross profit was $753.8 million (38.9% of net sales) versus $303.6 million (25.9%) a year earlier, and operating income was $305.3 million compared with an operating loss of $101.5 million in the prior-year quarter. Net income was $230.3 million, or $4.10 per diluted share, compared with a net loss of $78.5 million. Balance sheet and cash flow data show cash and cash equivalents of $947.5 million at May 1, 2021, with no borrowings outstanding under the credit facility, versus $800.0 million outstanding a year earlier. Operating cash flow was $330.1 million, and the company repurchased 1,243,209 shares for $392.3 million during the quarter. As of May 1, 2021, $1.1 billion remained available under the 2020 Share Repurchase Program. The company operated 1,290 stores at quarter end, up from 1,264, and opened 28 new stores during the quarter. The filing notes that the business is seasonal, with significant sales and income in the fourth quarter, and that results for the quarter are not necessarily indicative of future periods given the continuing uncertainty around COVID-19. The company also noted $2,339 of employee retention credit recognized in the quarter and a receivable of $54,744 for that credit. Management reported no material changes to risk factors from the fiscal 2020 Form 10-K.

    May 27, 2021
  18. 2021-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 31, 2020

    Ulta Beauty, Inc. reported a sharp drop in profitability for the 13 and 39 weeks ended October 31, 2020, driven by the COVID-19 pandemic. Net sales were $1,552,033 thousand for the quarter, down from $1,682,514 thousand a year earlier, and comparable sales decreased 8.9%. Net income fell to $74,798 thousand from $129,747 thousand. For the 39 weeks, net sales were $3,953,252 thousand versus $5,092,150 thousand, comparable sales decreased 23.8%, and net income was only $4,341 thousand compared with $483,226 thousand in the prior-year period. Gross margin for the 39 weeks declined to 29.8% from 36.8%. The company took several restructuring actions, including impairment, restructuring and other costs of $83,924 thousand for the 39 weeks. These included the permanent closure of 19 stores and the suspension of its Canadian expansion, which the company expects to cost $30,000 to $40,000 thousand pre-tax, mostly in fiscal 2020. Ulta drew down $800.0 million on its $1.0 billion revolver in March 2020 and repaid it on September 2, 2020. It suspended its share repurchase program, which may resume in the fourth quarter of fiscal 2020. Cash and cash equivalents plus short-term investments were $560.9 million at October 31, 2020, and the company stated it expects capital expenditures of $150 million to $160 million for fiscal 2020. The filing states that the full extent of the COVID-19 impact is uncertain and that the company is unable to accurately predict its effect on results. It also notes that the fourth quarter holiday season is seasonally significant, so interim results are not necessarily indicative of the full fiscal year ending January 30, 2021.

    Dec 3, 2020
  19. 2021-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 1, 2020

    Ulta Beauty, Inc. reported a sharp decline in results for the 13 and 26 weeks ended August 1, 2020, driven by the COVID-19 pandemic and the temporary closure of its brick-and-mortar stores. Net sales for the 13 weeks were $1.23 billion, down from $1.67 billion, and comparable sales decreased 26.7%. For the 13 weeks, the company reported net income of $8.1 million, or $0.14 per diluted share, versus $161.3 million a year earlier. For the 26 weeks, net sales were $2.40 billion, comparable sales fell 31.1%, and the company posted a net loss of $70.5 million, or $(1.25) per diluted share. Results were supported in part by $48.2 million of CARES Act employee retention credits recognized as a reduction of SG&A expenses over the first 26 weeks. Balance sheet liquidity improved considerably. Cash and cash equivalents rose to $1.16 billion at August 1, 2020, from $392.3 million at February 1, 2020, after the company drew $800.0 million under its $1.0 billion revolving credit facility on March 18, 2020. Long-term debt was $800.0 million at quarter end. Operating cash flow for the 26 weeks was $16.0 million, compared with $447.3 million a year earlier. The company suspended its share repurchase program on April 2, 2020, and it had $1.58 billion remaining under the 2020 program. Capital expenditure guidance for fiscal 2020 was reduced to between $180 million and $200 million. The company recorded impairment charges, store closures and other costs of $40.8 million for the quarter and $60.3 million for the 26 weeks, including charges tied to the permanent closure of 19 stores. The filing states that the full extent of the pandemic's impact remains uncertain and that the company cannot accurately predict its effect on results of operations. The company also noted that no new stores opened during the quarter, compared with 20 new stores in the prior-year quarter.

    Aug 27, 2020
  20. 2021-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 2, 2020

    Ulta Beauty, Inc. reported a sharply negative first quarter for the 13 weeks ended May 2, 2020, as the COVID-19 pandemic forced the temporary closure of all U.S. stores on March 19, 2020. Net sales fell to $1,173.2 million from $1,743.0 million a year earlier, and comparable sales decreased 35.3%, driven by a 38.6% decrease in transactions partially offset by a 3.3% increase in average ticket. Gross profit declined to $303.6 million, with gross margin falling to 25.9% from 37.0%. The company recorded an operating loss of $101.5 million, including $19.5 million of impairment charges, and a net loss of $78.5 million, or $1.39 per diluted share, compared with net income of $192.2 million in the prior-year quarter. Liquidity was reinforced during the quarter. Ulta drew down $800.0 million under its $1.0 billion revolving credit facility on March 18, 2020, lifting cash and cash equivalents to $1,043.5 million and total cash plus short-term investments to $1.2 billion. Cash used in operations was $24.3 million, compared with cash provided of $271.7 million a year earlier. The company suspended its share repurchase program on April 2, 2020, temporarily furloughed many store and salon associates, suspended new hires, reduced capital expenditure plans to $200 to $210 million for fiscal 2020, and reduced new store openings, relocations and remodels. As of May 28, 2020, 333 stores were open for guests and 840 offered curbside pickup, with reopenings proceeding on a phased timeline. Management stated that the pandemic's full extent is uncertain and that it cannot accurately predict the impact on results. The company also noted that the CARES Act was signed into law on March 27, 2020, and that it was still evaluating the effects.

    May 28, 2020
  21. 2020-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 2, 2019

    Ulta Beauty, Inc. reported its third-quarter fiscal 2019 results for the 13 weeks ended November 2, 2019. Net sales rose $122.5 million, or 7.9%, to $1,682.5 million, with a comparable sales increase of 3.2%. Gross profit increased $51.2 million, or 8.9%, to $623.4 million, and gross margin improved 40 basis points to 37.1%. However, SG&A expenses grew $53.7 million, or 13.6%, to $449.2 million, driven by corporate overhead investments in growth initiatives and store labor, so net income declined slightly to $129.7 million from $131.2 million. Diluted EPS was $2.25 versus $2.18 in the prior-year quarter's diluted figure. For the 39 weeks, net sales increased 10.9% to $5,092.2 million, with a comparable sales increase of 5.4%, and net income rose 8.9% to $483.2 million. The company opened 31 new stores in the quarter and operated 1,241 stores as of November 2, 2019. Management stated that the cosmetics category in the overall U.S. market experienced mid-single digit declines through the first nine months of 2019, which it attributed to a lack of incremental innovation. Balance sheet and cash flow highlights include inventories of $1,616.9 million, up from $1,484.6 million a year earlier, and operating lease liabilities of $1,929.433 million following the adoption of ASC 842. The company repurchased 1,639,438 shares for $506.9 million in the 39 weeks and had no borrowings outstanding under its credit facility, with $388.8 million remaining under its 2019 Share Repurchase Program.

    Dec 5, 2019
  22. 2020-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 3, 2019

    Ulta Beauty, Inc. reported its second-quarter 2019 results for the 13 weeks ended August 3, 2019, with net sales rising 12.0% to $1,666.6 million and net income increasing 8.7% to $161.3 million, or $2.76 diluted earnings per share. Comparable sales increased 6.2%, driven by a 5.4% increase in transactions and a 0.8% increase in average ticket. Gross margin expanded 40 basis points to 36.4% of net sales, while SG&A rose to 23.6% of net sales, reflecting corporate overhead investments in growth initiatives and store labor. For the 26 weeks, net sales were $3.41 billion, up 12.5%, and net income was $353.5 million. The balance sheet changed significantly due to the adoption of ASC 842 on February 3, 2019, which added operating lease assets of $1.50 billion and total lease liabilities of $1.89 billion as of August 3, 2019. Cash and cash equivalents fell to $177.4 million from $409.3 million at fiscal year-end, primarily because of $378.3 million in share repurchases over the 26 weeks. Merchandise inventories rose to $1.32 billion, with the company citing 89 net new stores opened since August 4, 2018 and a total store count of 1,213. The company had no borrowings outstanding under its $400.0 million revolving credit facility, and $517.3 million remained available under its $875.0 million 2019 Share Repurchase Program. Management noted that U.S. cosmetics category sales had experienced mid-single digit declines through the first six months of 2019, which it attributed to a lack of incremental innovation, while stating that Ulta Beauty continues to drive meaningful market share across all categories. The filing states there have been no material changes from the risk factors in the Annual Report on Form 10-K for the year ended February 2, 2019.

    Aug 29, 2019
  23. 2020-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 4, 2019

    Ulta Beauty, Inc. reported results for the 13 weeks ended May 4, 2019 in its Form 10-Q. Net sales rose $199.4 million, or 12.9%, to $1,743.0 million, driven by comparable store sales growth of 7.0% (4.3% from transactions and 2.7% from average ticket) and $89.9 million from non-comparable stores. Gross profit increased $84.1 million, or 15.0%, to $644.8 million, with gross margin rising 70 basis points to 37.0%. SG&A expenses grew $57.5 million, or 16.6%, to $403.1 million, and as a percentage of net sales rose 70 basis points to 23.1%, which the company attributed mainly to corporate overhead deleverage tied to growth investments and store labor. Operating income reached $237.5 million, and net income increased $27.8 million, or 16.9%, to $192.2 million, with diluted EPS of $3.26 versus $2.70 a year earlier. The balance sheet was reshaped by the adoption of ASC 842 on February 3, 2019, which added operating lease assets of $1,479.1 million and total lease liabilities of $1,865.8 million at May 4, 2019. Cash and cash equivalents were $326.8 million, with an additional $195.0 million in short-term certificates of deposit, and the company had no borrowings under its $400.0 million revolving credit facility. Net cash provided by operating activities was $271.7 million, while capital expenditures were $71.8 million. The company repurchased 318,431 shares for $107.4 million during the quarter and had $788.2 million remaining under its $875.0 million 2019 Share Repurchase Program. The company operated 1,196 stores across 50 states as of May 4, 2019, up from 1,107 a year earlier, and opened 22 new stores during the quarter. Management described its long-term goal of a 1,500 to 1,700 store chain in the U.S. Because the business is seasonal, the company noted that a significant portion of net sales and net income is realized in the fourth quarter, so first-quarter results should not be treated as indicative of the full year.

    May 30, 2019
  24. 2019-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 3, 2018

    Ulta Beauty, Inc. reported results for the 13 weeks and 39 weeks ended November 3, 2018. Net sales for the quarter rose to $1.56 billion from $1.34 billion, and net income increased to $131.2 million from $104.6 million, or $2.18 diluted EPS versus $1.70 a year earlier. Comparable sales increased 7.8% in the quarter, with e-commerce comparable sales up 42.5%. Gross margin was 36.7%, flat year over year, while SG&A rose to 25.3% of net sales from 23.9%, reflecting store labor investment and marketing deleverage. The effective tax rate fell to 23.1% for the quarter, which the filing attributes primarily to tax reform. The balance sheet shows cash and cash equivalents of $296.9 million and no short-term investments, compared with $120.0 million at fiscal year-end. Merchandise inventories rose to $1.48 billion, up from $1.35 billion a year earlier, which the company attributes mainly to 105 net new stores and the opening of a Fresno, California distribution center. Year to date, the company repurchased 1,582,118 shares for $379.4 million under its $625.0 million 2018 program, leaving $282.8 million available. The credit facility had no borrowings outstanding. The filing also discloses that adoption of ASU 2016-02 (Leases) in fiscal 2019 will have a material impact on the balance sheet, affecting approximately 1,200 leased locations, though the company stated it could not yet quantify the difference. The company adopted ASC 606 on February 4, 2018, with a $29.98 million cumulative reduction to opening retained earnings, primarily related to the loyalty program. The company operated 1,163 stores across 50 states at quarter end, versus 1,058 a year earlier.

    Dec 6, 2018
  25. 2019-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 4, 2018

    Ulta Beauty, Inc. reported higher sales and profit for the 13 weeks ended August 4, 2018. Net sales rose $198.4 million, or 15.4%, to $1,488.2 million, driven by comparable sales growth of 6.5% and non-comparable store increases of $105.0 million. Net income increased $34.1 million, or 29.9%, to $148.3 million, and diluted earnings per share were $2.46, compared with $1.83. Gross margin declined 40 basis points to 36.0% of net sales, and SG&A rose to 22.7% of net sales from 22.0%. The lower effective tax rate of 23.9%, versus 36.7% a year earlier, was primarily due to tax reform and was a major contributor to the profit increase. For the 26 weeks ended August 4, 2018, net sales increased 16.4% to $3,031.9 million and net income increased 29.0% to $312.7 million. Operating cash flow was $388.0 million, compared with $220.0 million a year earlier, while capital expenditures were $141.7 million, down from $193.2 million. The company ended the period with $237.1 million of cash and equivalents, $149.0 million of short-term investments, and no borrowings under its $400.0 million revolving credit facility. Share repurchases totaled $260.5 million for 1,131 thousand shares over the 26 weeks, leaving $401.8 million available under the $625.0 million 2018 Share Repurchase Program. The filing notes that adoption of ASC 606 reduced opening retained earnings by $29.98 million, primarily due to the loyalty program change, and is expected to be immaterial to ongoing net income. The company also disclosed that adoption of ASU 2016-02 (Leases) in fiscal 2019 will have a material impact on its consolidated balance sheet, given about 1,200 leased locations, although it does not expect a material effect on results of operations or cash flows.

    Aug 30, 2018
  26. 2019-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 5, 2018

    Ulta Beauty, Inc. reported results for the 13 weeks ended May 5, 2018, its first quarter of fiscal 2018. Net sales rose $228.8 million, or 17.4%, to $1,543.7 million, driven by comparable store growth, new non-comparable stores, and other revenue. Total comparable sales increased 8.1%, with retail stores and salon services up 4.7% and e-commerce up 48.0%. The company operated 1,107 stores as of May 5, 2018, up from 990 a year earlier, after opening 34 new stores in the quarter. Profitability improved. Gross profit increased 17.8% to $560.7 million, with gross margin at 36.3% versus 36.2%, while SG&A rose 21.9% to $345.6 million. Operating income was $209.8 million, and net income increased 28.2% to $164.4 million, or $2.70 diluted EPS versus $2.05. The effective tax rate fell to 22.1% from 32.1%, which the filing attributes primarily to tax reform. The company adopted ASC 606 on February 4, 2018, which the filing says shifted revenue and expense timing, adding 50 basis points of gross margin leverage and 70 basis points of SG&A deleverage. Liquidity remained strong. Cash and cash equivalents were $231.9 million, short-term investments were $237.2 million, and the company had no borrowings under its $400.0 million credit facility. Operating cash flow was $277.3 million for the quarter. The company repurchased 618,551 shares for $133.1 million under a new $625.0 million authorization announced March 15, 2018, leaving $529.2 million available.

    Jun 1, 2018
  27. 2018-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 28, 2017

    Ulta Beauty, Inc. reported net sales of $1,342.2 million for the 13 weeks ended October 28, 2017, up $210.9 million or 18.6% from $1,131.2 million a year earlier. Comparable sales rose 10.3%, with retail and salon comparable sales up 6.6% and e-commerce comparable sales up 62.9%. Net income increased $17.1 million or 19.5% to $104.6 million, and diluted earnings per share were $1.70 versus $1.40. Gross profit margin contracted 110 basis points to 36.7%, mainly from merchandise margin deleverage, while SG&A as a percentage of net sales fell 90 basis points to 23.9%. For the 39 weeks, net sales reached $3,946.9 million and net income was $347.1 million, or $5.58 per diluted share. The company estimated Hurricanes Harvey and Irma cost approximately $14 million in lost sales in the quarter. The balance sheet reflects heavy investment in growth. Merchandise inventories were $1,349.7 million, up $212.7 million or 18.7% from October 29, 2016, and cash and cash equivalents fell to $46.8 million from $385.0 million at January 28, 2017. Operating cash flow for the 39 weeks was $329.1 million, while capital expenditures were $337.6 million. The company opened 86 new stores during the 39 weeks and operated 1,058 stores at quarter end. Ulta repurchased 1,237,949 shares for $309.8 million in the 39 weeks, leaving $136.4 million available under its $425.0 million 2017 share repurchase program. The $400.0 million revolving credit facility had no borrowings outstanding. Management stated that the adoption of ASU 2016-02 on leases will have a material impact on the consolidated balance sheet, though the amount has not yet been quantified. The company expects the adoption of ASU 2014-09 on revenue recognition in fiscal 2018 to have no material impact on its financial position, results of operations or cash flows. Management also noted that working capital needs are greatest from August through November because of holiday inventory build.

    Nov 30, 2017
  28. 2018-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 29, 2017

    Ulta Beauty, Inc. reported results for the 13 and 26 weeks ended July 29, 2017 in this Form 10-Q. Net sales rose 20.6% to $1,289.9 million for the quarter and 21.6% to $2,604.7 million for the 26 weeks. Comparable sales increased 11.7% in the quarter (retail and salon up 8.3%, e-commerce up 72.3%) and 13.0% for the 26 weeks. Operating income was $179.8 million for the quarter, up from $143.8 million, and net income was $114.2 million, or $1.83 diluted EPS, versus $90.0 million and $1.43 a year earlier. Gross margin expanded to 36.4% in the quarter from 36.0%, driven by merchandise margin improvements and leverage on fixed store costs. The balance sheet grew alongside the store base, which reached 1,010 stores in 48 states and the District of Columbia. Merchandise inventories rose 23.1% year over year to $1,144.7 million, and property and equipment, net, increased to $1,095.1 million. Cash and cash equivalents fell to $92.9 million from $385.0 million at year-end, reflected in a net cash outflow of $292.2 million for the 26 weeks, as the company funded $193.2 million of capital expenditures, $178.1 million of share repurchases and $240.0 million of short-term investment purchases. The company had no borrowings under its credit facility at quarter end. Subsequent to quarter end, on August 23, 2017, Ulta entered into a Second Amended and Restated Loan Agreement that extends the facility's maturity to August 23, 2022 and raises maximum revolving loans to the lesser of $400 million or a percentage of eligible owned inventory. The company had $268.1 million remaining under its $425.0 million 2017 share repurchase program as of July 29, 2017.

    Aug 31, 2017
  29. 2018-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 29, 2017

    Ulta Beauty, Inc. reported net sales of $1,314.9 million for the 13 weeks ended April 29, 2017, up from $1,073.7 million in the prior-year quarter, with the filing stating an increase of $241.2 million, or 22.5%. Comparable sales rose 14.3%, consisting of a 10.9% increase in retail and salon stores and a 70.9% increase in e-commerce. Net income increased to $128.2 million, or $2.05 per diluted share, from $92.0 million, or $1.45 per diluted share, a year earlier. Operating income was $188.4 million, or 14.3% of net sales, compared with $147.2 million, or 13.7%, in the prior-year period. Gross profit margin declined slightly to 36.2% from 36.4%, while SG&A leveraged to 21.6% of net sales from 22.4%. The effective tax rate fell to 32.1% from 37.6%, which the filing attributes primarily to a tax benefit from the adoption of a new share-based payment accounting standard. The company operated 990 stores in 48 states and the District of Columbia at quarter end, up from 886 a year earlier, and opened 18 new stores during the quarter. Cash flow from operations was $175.7 million. Capital expenditures were $76.8 million, and the company repurchased 184,667 shares for $51.6 million under its 2017 Share Repurchase Program. The company had no borrowings under its credit facility and held $150.0 million in short-term certificates of deposit. Inventories rose 24.3% year over year to $1,048.4 million, which the filing attributes largely to new stores and distribution center scaling. The filing notes that the company will adopt the revenue recognition standard ASU 2014-09 in fiscal 2018 using the modified retrospective method, and that it does not expect a significant impact to pretax income. It also states that it has made a decision to early adopt the leasing standard ASU 2016-02 in fiscal 2018, which it expects will have a material impact on financial position but not on results of operations or cash flows.

    Jun 1, 2017
  30. 2017-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 29, 2016

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $1,131.2 million for the 13 weeks ended October 29, 2016, up $220.5 million or 24.2% from $910.7 million a year earlier, and net income of $87.6 million, up 23.2% from $71.1 million. Diluted EPS was $1.40 versus $1.11. For the 39 weeks, net sales rose 23.3% to $3,274.2 million and net income rose 27.0% to $269.5 million, with diluted EPS of $4.28 versus $3.30. Total comparable sales increased 16.7% in the quarter and 15.4% year to date, with e-commerce comparable sales up 59.1% and 50.8%, respectively. Gross margin expanded to 37.8% in the quarter from 36.9%, driven by merchandise margin improvements and fixed store cost leverage, partly offset by supply chain deleverage. SG&A rose to 24.8% of net sales from 24.0%, reflecting growth investments and impairment charges tied to store closures. The company operated 949 stores in 48 states and the District of Columbia at quarter end, versus 860 a year earlier, and opened 42 new stores in the quarter. Merchandise inventories rose to $1,137.0 million from $884.4 million, which the filing attributes in part to the opening of its fourth and fifth distribution centers. Operating cash flow for the 39 weeks was $323.0 million, while capital expenditures were $281.2 million. The company repurchased $297.0 million of common stock in the period, including a $200 million accelerated share repurchase, and had $148.3 million remaining under its $425 million 2016 share repurchase program. It had no borrowings outstanding under its credit facility, and cash and cash equivalents fell to $133.1 million from $345.8 million at fiscal year-end.

    Dec 1, 2016
  31. 2017-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 30, 2016

    Ulta Salon, Cosmetics & Fragrance, Inc. reported strong second-quarter fiscal 2016 results for the 13 weeks ended July 30, 2016. Net sales rose 21.9% to $1,069.2 million from $877.0 million, driven by a 14.4% total comparable sales increase, including a 54.9% increase in e-commerce comparable sales. Gross profit increased 25.6% to $384.8 million, and gross margin expanded 110 basis points to 36.0%. Net income grew 21.3% to $90.0 million, and diluted EPS was $1.43 versus $1.15. Store count reached 907 versus 817 a year earlier, and the company opened 24 new stores in the quarter. For the 26 weeks, net sales were $2,142.9 million, up 22.8%, and net income was $182.0 million, up 29.0%, with diluted EPS of $2.89 versus $2.19. The company ended the period with $194.1 million in cash and $110.0 million in short-term certificates of deposit, and had no borrowings under its credit facility. Merchandise inventories rose to $930.2 million from $705.7 million, reflecting new stores, two new distribution centers, and sales growth. Management highlighted SG&A deleverage from headcount additions and an impairment charge tied to closing the Chicago State Street store. The company repurchased shares under its 2016 program, which authorizes up to $425 million. During the 26 weeks it completed a $200 million accelerated share repurchase and bought an additional 265,481 shares for $52.5 million. Remaining authorization was $192.8 million at quarter end. Management stated that cash on hand, operating cash flow, and the credit facility should satisfy liquidity needs for at least the next 12 months.

    Aug 25, 2016
  32. 2017-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 30, 2016

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $1,073.7 million for the 13 weeks ended April 30, 2016, up from $868.1 million in the prior-year quarter, with net sales increasing $205.6 million, or 23.7%. Total comparable sales rose 15.2%, consisting of a 13.9% increase at retail and salon stores and a 38.8% increase in e-commerce. Gross profit increased $87.2 million, or 28.8%, to $390.4 million, and gross margin expanded 150 basis points to 36.4%. Operating income rose to $147.2 million from $107.6 million, and net income increased $25.0 million, or 37.4%, to $92.0 million, or $1.45 per diluted share. The company operated 886 stores at quarter end, opening 13 new stores during the quarter. Cash generation was strong, with net cash provided by operating activities of $166.9 million versus $68.3 million a year earlier. However, the company used $226.7 million for share repurchases in the quarter, including a $200 million accelerated share repurchase agreement with Goldman, Sachs & Co. under the new $425 million 2016 Share Repurchase Program authorized March 10, 2016. Cash and cash equivalents fell to $239.3 million from $345.8 million at fiscal year-end, and the company had no borrowings outstanding under its credit facility. Inventories increased to $843.5 million from $662.9 million a year earlier, driven by the addition of 89 net new stores, the opening of a fourth distribution center in Greenwood, Indiana, and new brand additions and prestige brand boutiques. The company notes that its business is seasonal, with a significant portion of net sales and net income realized in the fourth quarter, and that results for this quarter are not necessarily indicative of full-year results.

    Jun 2, 2016
  33. 2016-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 31, 2015

    Ulta Salon, Cosmetics & Fragrance, Inc. reported third-quarter fiscal 2015 results for the 13 weeks ended October 31, 2015. Net sales rose 22.1% to $910.7 million from $745.7 million, and net income increased 20.2% to $71.1 million, or $1.11 per diluted share. Total comparable sales increased 12.8%, with retail and salon comparable sales up 10.9% and e-commerce comparable sales up 56.3%. Gross margin declined 90 basis points to 36.9%, primarily due to supply chain deleverage from the new Greenwood, Indiana distribution center, while SG&A leveraged 30 basis points to 24.0% of net sales. For the 39 weeks ended October 31, 2015, net sales increased 21.1% to $2.66 billion and net income rose 24.9% to $212.2 million, or $3.30 per diluted share. The company operated 860 stores in 48 states at quarter end, having opened 45 new stores in the quarter and 89 year to date. Cash and cash equivalents fell to $209.6 million, while merchandise inventories rose to $884.4 million from $709.7 million a year earlier, driven by new stores, increased sales and the opening of the Greenwood distribution center. The company had no borrowings under its credit facility and $150.2 million in short-term certificates of deposit. During the 39 weeks, the company repurchased 772,076 shares for $121.3 million, and $238.8 million remained available under its $400 million 2014 Share Repurchase Program. The filing discloses several California wage-and-hour class actions, including Moore v. Ulta, for which no accrual has been recorded because a loss is not probable or reasonably estimable, and management expects no material adverse effect on financial position or liquidity.

    Dec 3, 2015
  34. 2016-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 1, 2015

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $876,999 thousand ($877.0 million) for the 13 weeks ended August 1, 2015, up from $734,236 thousand, with the filing stating an increase of 19.4%. Gross profit rose to $306,475 thousand, with gross margin of 34.9% versus 35.3% a year earlier, reflecting supply chain deleverage from the new Greenwood, Indiana distribution center. Net income for the quarter was $74,169 thousand, or $1.15 per diluted share, compared with $60,794 thousand, or $0.94, in the prior-year quarter. Total comparable sales increased 10.1% in the quarter and 10.8% for the 26 weeks. For the 26 weeks ended August 1, 2015, net sales were $1,745.1 million and net income was $141.1 million, or $2.19 per diluted share. Operating income reached $226,042 thousand, and SG&A expenses declined to 21.6% of net sales from 22.1%. The company operated 817 stores in 48 states, opening 44 new stores during the first half. Store count grew from 715 a year earlier. The balance sheet shows cash and cash equivalents of $325,214 thousand, short-term investments of $150,209 thousand, and no borrowings under its credit facility. Merchandise inventories rose to $705,660 thousand from $541,508 thousand a year earlier, which management attributes partly to 102 net new stores and the Greenwood distribution center. Capital expenditures were $137,218 thousand for the 26 weeks. The company repurchased 483,649 shares for $73.8 million during the period, and $286.3 million remained available under its 2014 Share Repurchase Program. The filing notes pending California employment class action lawsuits, for which no accrual has been recorded.

    Sep 3, 2015
  35. 2016-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 2, 2015

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $868.1 million for the 13 weeks ended May 2, 2015, up from $713.8 million a year earlier, an increase of $154.3 million or 21.6%. Comparable sales rose 11.4% (9.7% for retail and salon stores and 49.8% for e-commerce). Gross profit increased to $303.2 million, with gross margin of 34.9% versus 34.5%. SG&A expenses were $192.5 million, or 22.2% of net sales compared with 22.8% a year earlier. Operating income rose to $107.6 million from $80.9 million, and net income increased 34.0% to $66.9 million, or $1.04 per diluted share versus $0.77. The company operated 797 stores in 48 states at quarter end, up from 696 a year earlier, and opened 24 new stores during the quarter. Net cash provided by operating activities was $68.3 million, and capital expenditures were $56.6 million. Merchandise inventories rose to $662.9 million from $531.4 million a year earlier, which the filing attributes largely to 101 net new stores and to strong sales and new brand additions. The company had no borrowings outstanding under its credit facility and $386.0 million of cash and cash equivalents at quarter end. During the quarter Ulta repurchased 192,422 shares under its 2014 Share Repurchase Program for approximately $28.0 million, leaving $332.1 million available under the $400 million program. The filing discloses two pending employment class action lawsuits in California, for which the company has recorded no accrual and states it does not expect a material adverse effect on financial position or liquidity.

    Jun 4, 2015
  36. 2015-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 1, 2014

    Ulta Salon, Cosmetics & Fragrance, Inc. reported third-quarter fiscal 2014 results for the 13 weeks ended November 1, 2014. Net sales rose $126.9 million, or 20.5%, to $745.7 million, driven by a 9.5% total comparable sales increase (8.2% for retail and salon stores and 46.7% for e-commerce). Gross profit increased 21.6% to $281.8 million, with gross margin improving 40 basis points to 37.8%. Operating income grew to $94.1 million from $72.9 million, and net income rose 30.1% to $59.1 million, or $0.91 per diluted share. The company operated 765 stores across 47 states as of November 1, 2014. For the 39 weeks, net sales increased 21.7% to $2.19 billion and net income rose 28.5% to $169.9 million. Operating cash flow was $146.2 million, while capital expenditures were $172.5 million. Cash and cash equivalents fell to $295.1 million, and the company bought $100.0 million of short-term investments. The company had no borrowings outstanding under its credit facility, which was amended in December 2013 to extend maturity to December 2018. Merchandise inventories rose to $709.7 million from $582.3 million a year earlier, and the company noted that the fourth quarter typically contributes significant portions of annual sales and net income. Capital allocation included a new $300 million share repurchase program authorized September 11, 2014, with $290.0 million remaining as of November 1, 2014. The company repurchased 85,890 shares for $10.0 million at an average price of $116.09 during the quarter. The filing discloses a pending California employment class action in which the company believes a loss is not probable or reasonably estimable and expects no material adverse effect on financial position or liquidity.

    Dec 4, 2014
  37. 2015-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 2, 2014

    Ulta Salon, Cosmetics & Fragrance, Inc. (now Ulta Beauty, Inc.) reported net sales of $734.2 million for the 13 weeks ended August 2, 2014, up $133.2 million or 22.2% from $601.0 million a year earlier, and net income of $60.8 million, up 35.4% from $44.9 million. Diluted earnings per share were $0.94 versus $0.70. For the 26 weeks, net sales rose 22.3% to $1,448.0 million and net income rose 27.7% to $110.7 million, with diluted EPS of $1.71 versus $1.35. Total comparable store sales increased 9.6% in the quarter and 9.2% year to date, with e-commerce comparable sales up 54.9% and 63.8%, respectively. Gross margin was 35.3% in the quarter, flat year over year, and SG&A leverage improved to 21.5% of sales from 22.4%. The balance sheet remained strong. Cash and cash equivalents were $363.1 million, short-term investments were $100.1 million, and the company had no borrowings under its credit facility. Merchandise inventories rose to $541.5 million from $461.2 million a year earlier, mainly reflecting 106 net new stores opened since August 3, 2013, which brought the store count to 715 across 47 states. Stockholders' equity increased to $1,126.0 million. Operating cash flow for the 26 weeks was $133.2 million, while capital expenditures were $94.1 million. On September 11, 2014, the Board authorized a new $300 million share repurchase program, which revokes the $112.7 million unused balance under the 2013 program. The company said the repurchases are intended to offset equity dilution and return excess cash to shareholders. The filing also discloses a pending California putative employment class action, for which no accrual has been recorded because a loss is not probable and cannot be reasonably estimated, and management expects no material adverse effect on financial position or liquidity.

    Sep 11, 2014
  38. 2015-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 3, 2014

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $713.8 million for the 13 weeks ended May 3, 2014, up from $582.7 million in the prior-year quarter, with net income of $50.0 million versus $41.8 million. Diluted earnings per share were $0.77, compared with $0.65 a year earlier. Gross profit rose to $246.0 million, though gross margin slipped to 34.5% from 35.0%, driven by merchandise margin deleverage and fixed store cost deleverage. SG&A expenses rose to $162.4 million, flat as a percentage of sales at 22.8%. The company reported an 8.7% total comparable store sales increase, consisting of a 6.8% increase in retail and salon stores and a 72.3% increase in e-commerce. The store count reached 696 across 46 states, up from 576 a year earlier, and 21 stores were opened during the quarter. Operating cash flow was $73.7 million, capital expenditures were $39.1 million, and cash and cash equivalents ended at $456.7 million. The company had no borrowings outstanding under its credit facility, which was extended to December 2018. Management noted that the first quarter is not necessarily indicative of full-year results, since the fourth quarter is seasonally significant. The filing also discloses a pending putative employment class action in California, for which no accrual has been recorded because a loss is not considered probable or reasonably estimable. Remaining availability under the $150 million stock repurchase program was $112.7 million, and no shares were repurchased in the quarter other than shares withheld for tax obligations.

    Jun 10, 2014
  39. 2014-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Nov 2, 2013

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $618.8 million for the 13 weeks ended November 2, 2013, up from $505.6 million a year earlier, and net income of $45.4 million versus $38.2 million. For the 39 weeks, net sales were $1,802.5 million (compared with $1,461.4 million) and net income was $132.2 million (compared with $108.0 million). Diluted EPS was $0.70 for the quarter and $2.05 for the 39 weeks. Operating income for the quarter was $72.9 million, or 11.8% of net sales, versus 12.1% a year earlier, as SG&A deleveraged to 24.5% of net sales. Comparable store sales rose 6.8% in the third quarter, driven by a 9.5% increase in average ticket partly offset by a 2.7% decrease in traffic, with e-commerce comparable sales growing 74.4%. Management said customer traffic turned slightly negative in the quarter and that it is adjusting its promotional strategy ahead of what it expects to be a highly promotional holiday season. As a result, it has reduced its expectations for fourth-quarter and full-year 2013 earnings growth and now expects earnings growth in the low 20% range for the year. The company opened 55 new stores in the quarter and had 664 stores in 46 states at period end. Balance sheet activity shows merchandise inventories of $582.3 million, up 25.8% from a year earlier, and cash and cash equivalents of $240.9 million. The company had no borrowings under its credit facility, repurchased 500,500 shares for $37.3 million during the 39 weeks under a $150 million program with $112.7 million remaining, and faces a pending California putative employment class action whose outcome it cannot estimate.

    Dec 5, 2013
  40. 2014-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Aug 3, 2013

    Ulta Salon, Cosmetics & Fragrance, Inc. (now Ulta Beauty, Inc.) reported strong second-quarter fiscal 2013 results for the 13 weeks ended August 3, 2013. Net sales rose 24.8% to $601.0 million from $481.7 million a year earlier, and net income increased 28.3% to $44.9 million, or $0.70 per diluted share. The company attributed the growth to comparable store sales of 8.4% and non-comparable store additions, with the company operating 609 stores in 46 states at quarter end, up from 489 a year earlier. For the 26 weeks, net sales increased 23.8% to $1,183.7 million and net income rose 24.1% to $86.7 million, or $1.35 per diluted share. Gross margin was 35.1% for the half, down 30 basis points, reflecting merchandise margin deleverage, while SG&A leveraged modestly. E-commerce sales grew 70.8% in the first half and contributed about 140 basis points to comparable store sales growth of 7.6%. Management expects e-commerce growth to moderate in the second half, partly due to a planned website redesign in the third quarter. Balance sheet highlights include cash and cash equivalents of $286.2 million, inventories of $461.2 million (up from $316.7 million a year earlier), and no borrowings under the credit facility. During the first half, the company repurchased 500,500 shares for $37.3 million under a $150 million program, leaving $112.7 million available. The company stated it believes existing liquidity will meet its needs for at least the next 12 months.

    Sep 12, 2013
  41. 2014-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 4, 2013

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $582.7 million for the 13 weeks ended May 4, 2013, up $108.6 million, or 22.9%, from $474.1 million a year earlier. Comparable store sales rose 6.7%, consisting of a 5.3% increase in retail and salon stores and a 69.7% increase in e-commerce. Net income increased $6.9 million, or 20.0%, to $41.8 million, and diluted earnings per share were $0.65 versus $0.54. Gross profit as a percentage of net sales declined 100 basis points to 35.0%, while SG&A expenses fell 60 basis points to 22.8% of net sales. The company ended the quarter with 576 stores in 46 states, after opening 28 new stores during the period. Cash and cash equivalents were $293.2 million, and merchandise inventories rose to $442.1 million from $332.1 million a year earlier. The company had no borrowings outstanding under its credit facility at quarter end. During the quarter it repurchased 500,500 shares for $37.3 million under a $150 million program authorized on March 18, 2013, leaving $112.7 million available. The filing notes that the business is seasonal, with significant portions of net sales and net income realized in the fourth quarter. It also discloses a pending putative California employment class action, which management is vigorously defending and does not expect to be material.

    Jun 11, 2013
  42. 2013-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 27, 2012

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $505.6 million for the 13 weeks ended October 27, 2012, up from $413.1 million a year earlier, with comparable store sales up 8.4%. Net income rose to $38.2 million, or $0.59 per diluted share, from $26.8 million, and operating income reached $61.3 million versus $44.2 million. For the 39 weeks, net sales were $1,461.4 million, net income was $108.0 million, and diluted EPS was $1.68. Gross profit as a percentage of net sales increased to 36.7% for the quarter from 36.1%, and SG&A expenses decreased to 23.3% of net sales from 24.5%. The balance sheet shows merchandise inventories of $462.8 million, up from $354.9 million a year earlier, alongside cash of $191.7 million and no borrowings outstanding under the credit facility. The Company operated 537 stores in 45 states, opening 49 new stores in the quarter and 89 year to date. Capital expenditures were $144.0 million for the 39 weeks, and the Company paid a $1.00 per share special dividend totaling $62.5 million in May 2012. The filing notes the business is seasonal, with significant portions of net sales and net income realized in the fourth quarter. It also discloses a pending putative California employment class action, which management is vigorously defending and does not expect to be material in the aggregate with other proceedings.

    Nov 29, 2012
  43. 2013-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 28, 2012

    Ulta Salon, Cosmetics & Fragrance, Inc. reported strong second-quarter fiscal 2012 results for the 13 weeks ended July 28, 2012. Net sales rose $87.1 million, or 22.1%, to $481.7 million, and net income increased 46.4% to $35.0 million, or $0.54 per diluted share. Comparable store sales increased 9.3%, driven by a 5.5% increase in traffic and a 3.8% increase in average ticket. Gross profit margin expanded 80 basis points to 34.8%, and SG&A as a percentage of net sales fell 100 basis points to 22.0%. For the 26 weeks ended July 28, 2012, net sales reached $955.8 million, up 22.4%, and net income rose 48.0% to $69.9 million. Comparable store sales increased 9.7% for the first half. The company operated 489 stores in 45 states at quarter end, opening 40 new stores during the first half. Management stated it does not expect the high single digit to low double digit comparable store sales increases of recent quarters to continue, and cited a long-term annual net income growth target of 25% to 30% based on comparable store sales increases of 3% to 5%. Liquidity remained strong, with cash and cash equivalents of $197.4 million and no borrowings outstanding under the credit facility. The company paid a $1.00 per share special dividend totaling $62.5 million in May 2012. Inventories rose to $316.7 million, reflecting new stores and the Chambersburg, Pennsylvania distribution center. Management also disclosed a putative California employment class action, which it is vigorously defending and does not expect to be material.

    Sep 6, 2012
  44. 2013-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 28, 2012

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $474.1 million for the 13 weeks ended April 28, 2012, up $88.1 million, or 22.8%, from $386.0 million a year earlier. Comparable store sales rose 10.1%, driven by a 7.9% increase in traffic and a 2.2% increase in average ticket. Gross profit increased 26.7% to $170.9 million, with gross margin rising 110 basis points to 36.0%, and SG&A expenses rose 17.3% to $110.9 million while falling to 23.4% of net sales. Net income increased 49.7% to $34.9 million, or $0.54 per diluted share, and the company operated 467 stores in 44 states at quarter end. The company's balance sheet shows cash and cash equivalents of $266.3 million and merchandise inventories of $332.1 million, up from $255.5 million a year earlier, reflecting 73 net new stores and the opening of the Chambersburg, Pennsylvania distribution center. The credit facility had no borrowings outstanding at quarter end. Operating cash flow was $12.5 million, compared with $4.4 million in the prior-year period, and capital expenditures were $24.8 million. The Board declared a $1.00 per share special cash dividend, paid May 15, 2012, which created a $62.4 million dividend payable at quarter end. The filing notes a putative California employment class action filed March 2, 2012, which the company intends to vigorously defend, and management does not expect other legal proceedings to be material. The company states it does not expect the low double-digit comparable store sales increases to continue, and reiterates a long-term annual net income growth target of 25% to 30%, based on comparable store sales increases of 3% to 5%.

    Jun 5, 2012
  45. 2012-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 29, 2011

    Ulta Salon, Cosmetics & Fragrance, Inc. reported a strong third quarter of fiscal 2011 ended October 29, 2011. Net sales rose $73.9 million, or 21.8%, to $413.1 million for the three months, and net income increased $12.6 million, or 88.5%, to $26.8 million. Diluted earnings per share were $0.42 versus $0.23 a year earlier. For the nine months, net sales increased 21.7% to $1,193.6 million and net income rose 80.7% to $74.0 million, with diluted EPS of $1.17 compared to $0.67. The company attributed the results to a 9.6% third-quarter comparable store sales increase (10.7% for the nine months), gross margin expansion to 36.1% of net sales in the quarter, and SG&A leverage, which fell to 24.5% of net sales from 26.6%. The company operated 442 stores in 42 states at quarter end, versus 384 a year earlier, and opened 54 new stores during the nine months. Inventory rose to $354.9 million from $301.6 million a year earlier, primarily reflecting the addition of 58 net new stores. Capital expenditures were $97.7 million for the nine months, up from $74.8 million. The company ended the period with no borrowings under its credit facility, and on October 19, 2011 it entered into an amended and restated loan agreement extending the facility's maturity to October 2016, with maximum revolving loans of the lesser of $200 million or a percentage of eligible owned inventory. Management stated it does not expect low double-digit comparable store sales increases to continue, and its long-term annual net income growth target of 25% to 30% is based on comparable store sales increases of 3% to 5%. The company also noted that its business is seasonal, with significant net sales and net income realized in the fourth quarter, and that a California wage-and-hour class action is being settled for an amount it describes as not material.

    Dec 1, 2011
  46. 2012-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 30, 2011

    Ulta Salon, Cosmetics & Fragrance, Inc. reported strong second-quarter fiscal 2011 results for the three months ended July 30, 2011. Net sales increased $72.8 million, or 22.6%, to $394.6 million, driven by comparable store sales increases of $35.2 million and non-comparable store sales increases of $37.6 million. Gross profit rose 29.2% to $134.3 million, with gross margin expanding 170 basis points to 34.0%. Operating income reached $39.7 million versus $22.3 million a year earlier, and net income increased 83.0% to $23.9 million, or $0.38 per diluted share. For the six months ended July 30, 2011, net sales grew 21.6% to $780.6 million and net income rose 76.6% to $47.2 million, or $0.75 per diluted share. The company reported an 11.2% comparable store sales increase for the first half and operated 415 stores in 42 states at quarter end. Cash and cash equivalents increased to $142.5 million, and the company had no borrowings outstanding under its $200 million credit facility. Management noted that it does not expect the low double-digit comparable store sales increases to continue, and it cited a long-term annual net income growth target of 25% to 30% based on comparable store sales increases of 3% to 5%. The filing also flags macroeconomic uncertainty, including the U.S. credit downgrade in August 2011 and fiscal stress in Europe, which management said have caused wild stock market fluctuations and weakened consumer sentiment. Inventory rose to $258.8 million and deferred rent to $153.2 million, reflecting 59 net new stores opened since July 31, 2010. Capital expenditures increased to $52.7 million for the six months, and the company stated there were no material changes to its risk factors from its fiscal 2010 Form 10-K.

    Sep 8, 2011
  47. 2012-Q1

    Ulta Beauty Quarterly Report for Q1 Ended Apr 30, 2011

    Ulta Salon, Cosmetics & Fragrance, Inc. reported a strong first quarter of fiscal 2011 (three months ended April 30, 2011). Net sales rose $65.8 million, or 20.6%, to $386.0 million, driven by a comparable store sales increase of 11.1% (traffic up 9.5%, average ticket up 1.6%) and 47 net new stores opened since May 1, 2010. Gross profit increased $30.4 million, or 29.1%, to $134.9 million, with gross margin expanding 230 basis points to 34.9%. Operating income rose to $39.1 million from $23.3 million, and net income increased $9.6 million, or 70.5%, to $23.3 million, or $0.37 per diluted share versus $0.23 a year earlier. The balance sheet strengthened over the period. Cash and cash equivalents were $116.8 million at April 30, 2011, and the company had no borrowings outstanding under its $200 million credit facility. Stockholders' equity increased to $449.4 million, and merchandise inventories rose to $255.5 million, up $27.4 million from a year earlier, which management attributed mainly to new stores, partly offset by a 1.3% decrease in average inventory per store. Operating cash flow was $4.4 million, versus $9.8 million a year earlier, reflecting a $37.0 million inventory build, while capital expenditures increased to $19.5 million from $7.7 million as the company expanded its store base to 394 stores in 40 states. Management stated it does not expect the low double-digit comparable store sales increases that began in the first quarter of fiscal 2010 to continue. It cited a long-term annual net income growth target of 25% to 30%, based on comparable store sales increases of 3% to 5%. A California putative employment class action was agreed in principle to be settled, with the proposed settlement described as not material.

    Jun 7, 2011
  48. 2011-Q3

    Ulta Beauty Quarterly Report for Q3 Ended Oct 30, 2010

    Ulta Salon, Cosmetics & Fragrance, Inc. reported strong third-quarter fiscal 2010 results for the three months ended October 30, 2010, with net sales rising 19.4% to $339.2 million and net income increasing 67.9% to $14.2 million, or $0.23 per diluted share. Comparable store sales grew 12.2%, driven by an 11.5% increase in traffic and a 0.7% increase in average ticket. Gross profit as a percentage of net sales expanded 280 basis points to 35.1%, reflecting leverage in fixed store costs, merchandise margin improvement and supply chain efficiencies, partly offset by SG&A deleverage to 26.6% of sales, including incremental compensation for the new President and CEO. For the nine months, net sales increased 18.7% to $981.2 million and net income rose 113.9% to $40.9 million. The company operated 384 stores in 39 states at quarter end, having opened 30 new stores in the quarter and 42 in the first nine months. Inventories rose to $301.6 million, and cash and cash equivalents stood at $8.4 million. The company had no borrowings outstanding under its new $200 million asset-based credit facility with Wells Fargo, entered into August 31, 2010, which requires tangible net worth of at least $200 million; tangible net worth was $349.5 million. Management highlighted a leadership transition, with Carl Rubin becoming Chief Executive Officer effective September 2, 2010. Investors should note the company's seasonality, with significant net sales and net income realized in the fourth quarter, and a pending California employment class action lawsuit that management said could have a material adverse effect if resolved unfavorably, while a separate Salon Manager claim settlement was described as not material.

    Dec 2, 2010
  49. 2011-Q2

    Ulta Beauty Quarterly Report for Q2 Ended Jul 31, 2010

    Ulta Salon, Cosmetics & Fragrance, Inc. reported net sales of $321.8 million for the three months ended July 31, 2010, up 17.6% from $273.5 million a year earlier, and net sales of $642.0 million for the six months, up from $542.4 million. Net income rose to $13.1 million ($0.22 per diluted share) for the quarter from $5.8 million, and to $26.7 million ($0.44 diluted) for the six months from $10.7 million. Comparable store sales increased 10.8% for both the quarter and the first half, driven by an 8.0% traffic increase in the quarter and a 2.8% increase in average ticket. Gross profit margin expanded to 32.3% from 28.8% in the quarter, reflecting 160 basis points of leverage in fixed store costs and 120 basis points of merchandise margin improvement. The company operated 356 stores in 38 states at quarter end, including 23 added since August 1, 2009. Cash and cash equivalents were $15.9 million, and the company had no outstanding borrowings under its credit facility. On August 31, 2010, it replaced that facility with a new $200 million credit facility with Wells Fargo Bank as administrative agent, maturing May 31, 2013. Operating cash flow for the six months was $40.1 million, down from $69.9 million, primarily due to income tax timing, and capital expenditures were $32.6 million. Leadership is changing: Chief Executive Officer Lyn Kirby intends to resign effective after the close of business on September 2, 2010, and Carl Rubin, the President and Chief Operating Officer, will become Chief Executive Officer and President. The filing also discloses a new California putative class action over hourly-employee wage and hour practices, which management says could have a material adverse effect if resolved unfavorably, while a separate Salon Manager misclassification settlement is not material.

    Sep 2, 2010
  50. 2011-Q1

    Ulta Beauty Quarterly Report for Q1 Ended May 1, 2010

    Ulta Salon, Cosmetics & Fragrance, Inc. (now Ulta Beauty, Inc.) reported net sales of $320.2 million for the three months ended May 1, 2010, up from $268.8 million a year earlier, with the increase attributed mainly to 27 additional stores operating since May 2, 2009 and a 10.8% increase in comparable store sales. Gross profit rose to $104.5 million, or 32.6% of net sales, from $79.5 million, or 29.6%, and net income increased to $13.7 million, or $0.23 per diluted share, from $4.9 million, or $0.08 per diluted share. The company operated 347 stores in 38 states at quarter end. The company ended the quarter with no borrowings under its $200 million credit facility, with approximately $190.9 million of availability, and cash and cash equivalents of $8.7 million. Operating cash flow was $9.8 million, compared with $18.0 million a year earlier, and capital expenditures were $7.7 million. Stockholders' equity was $310.5 million. The filing also discloses a leadership transition, with Carl ("Chuck") Rubin appointed President and Chief Operating Officer effective May 10, 2010 and expected to become Chief Executive Officer after a transition period of up to four months. The company also disclosed a new putative California employment class action filed in May 2010 and a settlement in principle of a separate Salon Manager class action that the company does not believe is material.

    Jun 3, 2010