Ulta Beauty, Inc. - ULTA STOCK NEWS

Ulta Beauty (NASDAQ: ULTA) announced new long-term financial targets and strategic priorities at its 2024 Investor Day. The company plans to accelerate new store openings, targeting 1,800+ stores long-term, with 200 net new stores over the next three years. Ulta aims to drive loyalty program growth to 50 million members by 2028 and establish a leadership position in wellness.

The board approved a new $3 billion share repurchase authorization, replacing the prior program. Ulta Beauty reaffirmed its fiscal 2024 guidance, expecting net sales of $11.0-11.2 billion and comparable sales of -2% to 0%.

Long-term financial targets for 2026 and beyond include 4-6% net sales growth, mid-single-digit operating profit growth, and low double-digit diluted EPS growth. The company plans to maintain operating margins around 12% of net sales and continue its disciplined capital allocation strategy.

Ulta Beauty, the largest beauty retailer in the US, has launched Ulta Beauty Community, a new digital platform, along with two wellness initiatives: The Joy Hub and The Joy Of… podcast. These initiatives, announced on World Mental Health Day, aim to make beauty and joy more accessible while fostering connection, self-care, and holistic well-being.

The Ulta Beauty Community is an inclusive digital space where beauty enthusiasts can share stories, routines, and tips. The Joy Hub features content from The Joy Council, a group of mental health and well-being experts. The Joy Of… podcast explores the intersection of beauty and joy through interviews with industry leaders and mental health advocates.

These initiatives underscore Ulta Beauty's commitment to the connection between beauty, wellness, and joy. The company invites everyone to join the Ulta Beauty Community, explore The Joy Hub, and listen to The Joy Of… podcast, all accessible for free via Ulta Beauty's website.

Ulta Beauty (NASDAQ: ULTA) has announced its upcoming 2024 Investor Day, scheduled for Wednesday, October 16th, 2024, from 8:30 a.m. to 12:00 p.m. Central Time. This event will feature presentations from the company's executive leadership team, who will share insights into Ulta Beauty's strategies and long-term growth expectations.

The Investor Day will be accessible to the public via a live webcast on the company's investor relations website at https://www.ulta.com/investor. For those unable to attend the live event, a replay will be available online approximately three hours after the event concludes and will remain accessible for a six-month period.

Ulta Beauty announces a partnership with Universal Pictures' Wicked for a multi-branded beauty collection, available from October 6th at all stores and ulta.com. The collection, inspired by the film adaptation of the musical about the witches of Oz, includes makeup, skincare, haircare, and accessories from various brands. Ariana Grande's r.e.m. beauty will exclusively feature a -edition 9-piece makeup set.

The collection, priced from $8 to $60, will be showcased in Ulta Beauty stores nationwide through displays and experiences from October 6th to December 25th. Diamond and Platinum members get early access on October 1st and 2nd. Special immersive experiences will be available at select stores in New York and California.

Participating brands include r.e.m. beauty, Beekman 1802, OPI, It Brushes For Ulta, Caboodles, Conair, TARTAN + TWINE, Wet Brush, Wella, and Scunci. The partnership aims to celebrate individuality and the transformative power of beauty.

Ulta Beauty, the largest beauty retailer in the US, has announced its 2024 MUSE Accelerator cohort. Eight early-stage brands in cosmetics, skincare, haircare, and wellness will participate in a 10-week program starting September 18. The program offers a curriculum, mentorship, and funding to prepare brands for retail distribution. Each brand will receive $50,000 in financial support. New this year, Ulta Beauty and Fifteen Percent Pledge will award an additional $10,000 to one emerging entrepreneur. The MUSE Accelerator, in its third year, supports Ulta Beauty's efforts to amplify underrepresented voices in the industry and create an inclusive assortment.

Ulta Beauty, the largest beauty retailer in the US, has launched The Joy Council as part of its Joy Project initiative. The council, led by Deepak Chopra M.D. as honorary Chief of Joy, aims to help people find and experience joy in their daily lives. This initiative comes in response to Ulta Beauty's research revealing a joy deficit among American teens and adults.

The Joy Council includes fitness expert Ally Love, relationship expert Jillian Turecki, and Olympic champion Laurie Hernandez. They will create exclusive content, tips, and insights on joy, to be shared across Ulta Beauty's platforms. The initiative builds on the previous year's efforts to create the world's longest compliment chain on social media and in stores.

Ulta Beauty (NASDAQ: ULTA) reported its Q2 fiscal 2024 results with net sales of $2.6 billion, a 0.9% increase from the previous year. However, comparable sales decreased by 1.2% compared to an 8.0% increase in Q2 2023. The company's net income was $252.6 million, or $5.30 per diluted share, down from $300.1 million or $6.02 per share in the same period last year. Gross profit margin decreased to 38.3% from 39.3%, while SG&A expenses increased to 25.3% of net sales. Despite challenges, Ulta Beauty opened 17 new stores and repurchased 549,852 shares. The company has updated its fiscal 2024 outlook, lowering expectations for net sales and comparable sales growth.

Ulta Beauty (NASDAQ: ULTA) has announced that it will release its second quarter fiscal 2024 financial results on Thursday, August 29, 2024, after the market closes. The company will host a conference call at 4:30 p.m. ET / 3:30 p.m. CT to discuss the results. Investors and analysts can participate by dialing (877) 704-4453. A real-time audio webcast will be available on the company's Investor Relations website. A replay of the call will be accessible online for 30 days following the live event.

Ulta Beauty (NASDAQ: ULTA) reported its financial results for the first quarter of fiscal 2024, ending May 4, 2024. The company achieved net sales of $2.7 billion, a 3.5% increase from the previous year's $2.6 billion. Comparable sales grew by 1.6%, driven by a 1.3% rise in transactions and a 0.3% increase in the average ticket. Net income stood at $313.1 million, equating to $6.47 per diluted share, down from $347.1 million or $6.88 per share in Q1 2023.

Gross profit saw a slight increase to $1.07 billion, although the gross margin decreased to 39.2% from 40.0%. Operating income fell to $400.9 million, representing 14.7% of sales, compared to 16.8% in the previous year. SG&A expenses rose by 8.8% to $665.9 million.

Ulta opened 12 new stores and closed 2, bringing the total to 1,395 stores. The company repurchased 588,004 shares worth $285.1 million in Q1 2024. Updated FY24 guidance predicts net sales between $11.5 billion and $11.6 billion, and diluted EPS between $25.20 and $26.00.