Press release
Ulta Beauty Announces Fourth Quarter Fiscal 2020 Results
Net Sales of $2.2 billion compared to $2.3 billion in the year-ago quarter Comparable Sales decreased (4.8)% Net income of $171.5 million or $3.03 per
About this update from Ulta Beauty, Inc.
[{"type":"text","content":"\nNet Sales of $2.2 billion compared to $2.3 billion in the year-ago quarter \n\nComparable Sales decreased (4.8)%\n\nNet income of $171.5 million or $3.03 per diluted share\n\nAdjusted net income of $193.4 million or $3.41 adjusted per diluted share\n\n BOLINGBROOK, Ill.--(BUSINESS WIRE)--\nUlta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“Fourth Quarter”) and fifty-two-week period (“Fiscal Year”) ended January 30, 2021 compared to the same periods ended February 1, 2020. During the fourth quarter of fiscal 2020, the Company recorded long-lived asset impairment and restructuring related costs, primarily related to the suspension of the Company’s Canadian expansion and employee severance costs, which reduced reported operating income by $30.4 million and net income by $23.0 million, or $0.40 per diluted share. A reconciliation of non-GAAP financial measures to the respective GAAP measures is included in this release.\n\n“The Ulta Beauty team delivered better-than-expected results for the fourth quarter. Strong, enterprise-wide execution of our plans, combined with improving trends in consumer demand, resulted in solid results across multiple metrics, including sales, transactions and profitability,” said Mary Dillon, chief executive officer. “I want to express my sincere appreciation to all Ulta Beauty associates for their continued flexibility, collaboration and unwavering commitment to our guests and each other.”\n\n“Fiscal 2020 was a difficult year, and I am proud of how our teams navigated the unprecedented challenges with agility and purpose,” continued Dillon. “We begin fiscal 2021 with a strong foundation in place and good operational momentum. We are strategically investing in our business to drive further market share gains, and, as separately announced today, we are beginning to execute a thoughtful succession plan that ensures we continue to benefit from strong, experienced leadership for the next chapter of growth. I remain excited about the long-term opportunity for Ulta Beauty, and I am confident we will continue to shape and lead the beauty industry for many years to come.”\n\nCOVID-19 Response and Impact\n\nThe Company’s financial results continue to be impacted by the COVID-19 pandemic.\n\nOn March 19, 2020, Ulta Beauty temporarily closed all stores in response to ...