Ulta Beauty Updates Third Quarter and Fiscal Year 2018 Guidance

Ulta Beauty, Inc. (NASDAQ: ULTA) will host its 2018 analyst and investor conference today, Thursday, November 8, 2018 from 10:00 a.m. to 3:00 p.m. Central Time in Itasca, Illinois. In conjunction with this event, the Company is updating its financial guidance for the third quarter and fiscal 2018, issuing three year sales growth and earnings per share targets, and providing an update on its long-term strategy.

“We look forward to sharing our future vision for Ulta Beauty with the investment community,” said Mary Dillon, Chief Executive Officer. “We see exciting possibilities ahead to continue to increase market share, profitability and long-term shareholder value through our renewed strategic plan. This plan reflects deep guest and category insights that have led to robust innovation around guest experience, new capabilities in personalization and digital experiences, and laser focus on operational efficiencies.”

Announcing Q3 2018 Comparable Sales and Updating Q3 2018 and Fiscal 2018 Outlook:

For the third quarter of fiscal 2018, the Company achieved comparable sales growth, including e-commerce, of 7.8%, primarily driven by transaction growth, compared to guidance of 7% to 8% issued on August 30, 2018. Retail comparable sales growth was 4.4%, including salon comparable sales growth of 3.3%. E-commerce sales grew 42.2%. The Company reported a comparable sales increase of 10.3% in the third quarter of fiscal 2017.

The Company expects to report diluted earnings per share for the third quarter of fiscal 2018 at the high end of the range of the Company’s prior guidance of $2.11 to $2.16. The Company reported diluted earnings per share for the third quarter of fiscal 2017 of $1.70.

The Company is updating its previously announced fiscal 2018 guidance for comparable sales. For the full year, the Company expects to achieve comparable sales growth of approximately 7% to 8%, compared to previous guidance of 6% to 8%. The Company expects to deliver diluted earnings per share growth for fiscal 2018 in the low twenties percentage range, confirming its previous guidance.

Ulta Beauty is issuing comparable sales and diluted earnings per share targets for fiscal 2019, 2020 and 2021. The Company expects to achieve comparable sales growth in the range of 5% to 7%, and grow diluted earnings per share in the mid to high teens percentage range.

The Company expects to achieve modest operating margin expansion each year, balancing new investments in supply chain, digital innovation, and the guest experience with savings from a comprehensive cost optimization program, Efficiencies for Growth. The Company is announcing a multi-year $150 to $200 million cost savings target to fund investments in future growth initiatives.
more at: http://ir.ultabeauty.com/news-releases/news-release-details/2018/Ulta-Beauty-Hosts-Analyst-and-Investor-Conference-Updates-Third-Quarter-and-Fiscal-Year-2018-Guidance-and-Issues-Long-Term-Outlook/default.aspx

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