Ulta Beauty Announces First Quarter Fiscal 2018 Results

Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the first quarter ended May 5, 2018.

“Our first quarter results represent a solid start to 2018, with better than expected sales and earnings growth,” said Mary Dillon, chief executive officer. “This performance reflects our highly differentiated business model that continues to drive healthy retail comparable store sales, excellent new store productivity, and continued strength of our e-commerce business.”

For the First Quarter of Fiscal 2018
• Net sales increased 17.4% to $1,543.7 million compared to $1,314.9 million in the first quarter of fiscal 2017;
• Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.1% compared to an increase of 14.3% in the first quarter of fiscal 2017. The 8.1% comparable sales increase was driven by 5.1% transaction growth and 3.0% growth in average ticket;
• Retail comparable sales increased 4.7%, including salon comparable sales growth of 3.2%;
• E-commerce sales increased 48.0% to $154.4 million from $104.3 million in the first quarter of fiscal 2017, representing 340 basis points of the total company comparable sales increase of 8.1%;
• Salon sales increased 10.1% to $75.7 million compared to $68.7 million in the first quarter of fiscal 2017;
• Gross profit as a percentage of net sales increased 10 basis points to 36.3% compared to 36.2% in the first quarter of fiscal 2017, due to the impact of new revenue recognition accounting and leverage in fixed store costs, partially offset by category and channel mix shifts and investments in our salon services and supply chain operations;
• Selling, general and administrative expenses as a percentage of net sales increased 80 basis points to 22.4%, compared to 21.6% in the first quarter of fiscal 2017, due to the impact of new revenue recognition accounting and deleverage of investments in store labor to support growth initiatives, partially offset by leverage in corporate overhead and marketing expenses;
• Pre-opening expenses increased to $5.2 million compared to $4.2 million in the first quarter of fiscal 2017. Real estate activity in the first quarter of fiscal 2018 included 34 new stores and two remodels, compared to 18 new stores, one remodel, and two relocations in the first quarter of fiscal 2017;
• Operating income increased 11.4% to $209.8 million, or 13.6% of net sales, compared to $188.4 million, or 14.3% of net sales, in the first quarter of fiscal 2017;
• Tax rate decreased to 22.1% compared to 32.1% in the first quarter of fiscal 2017. The decrease was primarily due to tax reform;
• Net income increased 28.2% to $164.4 million compared to $128.2 million in the first quarter of fiscal 2017; and
• Earnings per diluted share increased 31.7% to $2.70, including a benefit of $0.07 due to income tax accounting for share-based compensation, compared to $2.05 in the first quarter of fiscal 2017, which included a $0.14 benefit due to income tax accounting for share-based compensation.
more detail at: http://ir.ultabeauty.com/news-releases/news-release-details/2018/Ulta-Beauty-Announces-First-Quarter-Fiscal-2018-Results/default.aspx

Related Posts

Postmaster General Louis DeJoy Modifies Organizational Structure to Support USPS Mission

The new organization will align functions based on core business operations and will provide more clarity and focus on what the Postal Service does best; collect, process, move and deliver mail and packages. The new organizational structure is focused on three business operating units: *Retail and Delivery Operations — basic mission: Accept and deliver mail and packages efficiently with a high level of customer satisfaction. This organization will be led by Kristin Seaver. *Logistics and Processing Operations –— basic mission: Process and move mail and packages efficiently to the delivery units, meeting service standards. This organization will be led by David Williams. *Commerce and Business Solutions — basic mission: Leverage infrastructure to enable growth. This organization will be led by Jacqueline (Jakki) Krage Strako.

Costco Wholesale Corporation Reports Third Quarter and Year-to-Date Operating Results for Fiscal 2021

Net sales for the quarter increased 21.7 percent, to $44.38 billion, from $36.45 billion last year. Net sales for the first 36 weeks increased 17.7 percent, to $130.61 billion, from $110.94 billion last year. Net income for the quarter was $1,220 million, or $2.75 per diluted share, which included $57 million pretax, or $0.09 per diluted share, in COVID-19 related costs, primarily from $2 per hour premium pay. Last year’s third quarter net income was $838 million, or $1.89 per diluted share, inclusive of $283 million pretax, or $0.47 per diluted share of COVID related costs. Net income for the first 36 weeks was $3.34 billion, or $7.51 per diluted share, compared to $2.61 billion, or $5.89 per diluted share, last year.

Lawyers Argue that E-book Price-Fixing Case Against Amazon, Big Five Publishers Should Proceed (publishersweekly.com)

In separate motions filed last month, Amazon and the Big Five publishers argued that a lawsuit accusing them of a conspiracy to fix e-book prices was “illogical” and should be dismissed. But in a lengthy opposition brief filed this week, lawyers for a potential consumer class portrayed their case as the second act of the Apple e-books case, and insisted there is more than enough evidence for the case to proceed. In the 56-page filing, lawyers for the plaintiffs insist that the existence of Most Favored Nation clauses in the Amazon contracts of the Big Five publishers—the crux of the plaintiffs' case—is sufficient to allow the case to proceed, especially given that the MFN is the same mechanism five major publishers and Apple used to eliminate price competition from the consumer e-book market in 2010.
Back To Top
×Close search
Search