Ulta Beauty Announces Third Quarter Fiscal 2018 Results

Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen week period (“Third Quarter”) and thirty-nine week period (“First Nine Months”) ended November 3, 2018, which compares to the same periods ended October 28, 2017.

“Ulta Beauty’s strong performance in the third quarter reflects continued market share gains across all major categories, acceleration in our overall comp driven by healthy traffic, excellent new store productivity, and robust e-commerce growth,” said Mary Dillon, Chief Executive Officer.

For the Third Quarter of Fiscal 2018
• Net sales increased 16.2% to $1,560.0 million compared to $1,342.2 million in the third quarter of fiscal 2017;
• Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 7.8% compared to an increase of 10.3% in the third quarter of fiscal 2017. The 7.8% comparable sales increase was driven by 5.3% transaction growth and 2.5% growth in average ticket;
• Retail comparable sales increased 4.4%, including salon comparable sales growth of 3.5%;
• E-commerce sales increased 42.5% to $170.7 million compared to $119.8 million in the third quarter of fiscal 2017, representing 340 basis points of the total Company comparable sales increase of 7.8%;
• Salon sales increased 10.7% to $74.0 million compared to $66.9 million in the third quarter of fiscal 2017;
• Gross profit as a percentage of net sales remained flat at 36.7% compared to the third quarter of fiscal 2017, due to category and channel mix shifts and investments in our salon services and supply chain operations, fully offset by leverage in fixed store costs and the impact of new revenue recognition accounting;
• Operating income increased 4.0% to $169.2 million, or 10.8% of net sales, compared to $162.7 million, or 12.1% of net sales, in the third quarter of fiscal 2017;
• Net income increased 25.3% to $131.2 million compared to $104.6 million in the third quarter of fiscal 2017;

For the First Nine Months
• Net sales increased 16.3% to $4,591.9 million compared to $3,946.9 million in the first nine months of fiscal 2017;
• Comparable sales increased 7.5% compared to an increase of 12.1% in the first nine months of fiscal 2017. The 7.5% comparable sales increase was driven by 4.5% transaction growth and 3.0% growth in average ticket;
• Retail comparable sales increased 4.3%, including salon comparable sales growth of 2.8%;
• E-commerce sales increased 42.9% to $457.9 million compared to $320.4 million in the first nine months of fiscal 2017, representing 320 basis points of the total company comparable sales increase of 7.5%;
• Salon sales increased 9.8% to $223.7 million compared to $203.7 million in the first nine months of fiscal 2017;
• Gross profit as a percentage of net sales decreased 10 basis points to 36.3% compared to 36.4% in the first nine months of fiscal 2017, due to category and channel mix shifts and investments in our salon services and supply chain operations, partially offset by leverage in fixed store costs and the impact of new revenue recognition accounting;
• Operating income increased 7.9% to $572.9 million, or 12.5% of net sales, compared to $530.9 million, or 13.5% of net sales, in the first nine months of fiscal 2017;
• Net income increased 27.9% to $443.9 million compared to $347.1 million in the first nine months of fiscal 2017;
more detail at: http://ir.ultabeauty.com/news-releases/news-release-details/2018/Ulta-Beauty-Announces-Third-Quarter-Fiscal-2018-Results/default.aspx

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