Press release
Ulta Beauty Announces First Quarter Fiscal 2023 Results
Net Sales of $2.6 Billion Compared to $2.3 Billion in the Year-Ago Quarter Comparable Sales Increased 9.3% Net Income of $347.1 Million or $6.88 Per Diluted
About this update from Ulta Beauty, Inc.
[{"type":"text","content":"\nNet Sales of $2.6 Billion Compared to $2.3 Billion in the Year-Ago Quarter\n\n\nComparable Sales Increased 9.3%\n\n\nNet Income of $347.1 Million or $6.88 Per Diluted Share\n\n\n BOLINGBROOK, Ill.--(BUSINESS WIRE)--\nUlta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“first quarter”) ended April 29, 2023.\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n13 Weeks Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nApril 29,\n\n\n\n\n\n\n \n\n\n\n\n\n\nApril 30,\n\n\n\n\n\n\n\n\n(Dollars in millions, except per share data)\n\n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,634.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,345.9\n\n\n\n\n\n\n\n\nComparable sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n9.3%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n18.0%\n\n\n\n\n\n\n\n\nGross profit (as a percentage of net sales)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n40.0%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n40.1%\n\n\n\n\n\n\n\n\nSelling, general and administrative expenses\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n612.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n501.0\n\n\n\n\n\n\n\n\nOperating income (as a percentage of net sales)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n16.8%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n18.7%\n\n\n\n\n\n\n\n\nDiluted earnings per share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n6.88\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n6.30\n\n\n\n\n\n\n\n\nNew store openings, net\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n10\n\n\n\n\n\n\n\n“The year is off to a positive start as the Ulta Beauty team delivered revenue, operating margin, and diluted EPS consistent with our internal expectations. Store traffic remained healthy, member growth showed continued strength, we delivered growth across key categories, and we strengthened engagement with the Ulta Beauty brand,” said Dave Kimbell, chief executive officer. “While we expect the operating environment to continue evolving, we remain confident in the resilience of the beauty category and in our ability to drive share and profitable growth with our proven business model, a diverse, best-in-cla...