Press release
Ulta Beauty Announces First Quarter Fiscal 2024 Results
Net Sales of $2.7 Billion Compared to $2.6 Billion in the Year-Ago Quarter Comparable Sales Increased 1.6% Net Income of $313.1 Million or $6.47 Per Diluted
About this update from Ulta Beauty, Inc.
[{"type":"text","content":"\nNet Sales of $2.7 Billion Compared to $2.6 Billion in the Year-Ago Quarter\n\n\nComparable Sales Increased 1.6%\n\n\nNet Income of $313.1 Million or $6.47 Per Diluted Share\n\n\nCompany Updates Fiscal 2024 Guidance\n\n\n BOLINGBROOK, Ill.--(BUSINESS WIRE)--\nUlta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“first quarter”) ended May 4, 2024.\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n13 Weeks Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nMay 4,\n\n\n\n\n\n\n \n\n\n\n\n\n\nApril 29,\n\n\n\n\n\n\n\n\n(Dollars in millions, except per share data)\n\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,725.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,634.3\n\n\n\n\n\n\n\n\nComparable sales (1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n1.6%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n9.3%\n\n\n\n\n\n\n\n\nGross profit (as a percentage of net sales)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n39.2%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n40.0%\n\n\n\n\n\n\n\n\nSelling, general and administrative expenses\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n665.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n612.1\n\n\n\n\n\n\n\n\nOperating income (as a percentage of net sales)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n14.7%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n16.8%\n\n\n\n\n\n\n\n\nDiluted earnings per share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n6.47\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\nNew store openings, net\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\n\n\n\n\n\n \n\n\n\n\n\n\n4\n\n\n\n\n\n\n\n\n\n(1)\n\n\n\n\n\n\n\nComparable sales are calculated based on the comparable 13 calendar weeks in the current and prior year.\n\n\n\n\n\n\n\n“The Ulta Beauty team delivered net sales growth of 3.5% and comparable sales growth of 1.6% in a dynamic operating environment. I am proud of how our teams continued to execute our transformational agenda, adapt to a rapidly evolving marketplace, and thoughtfully manage expenses across the enterprise,” said Dave Kimbell, chief executive officer. “We have a clear plan to accelerate our momentum and continue delivering a best-in...