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Ulta Beauty Announces Second Quarter Fiscal 2022 Results

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Ulta Beauty reported robust financial results for Q2 and H1 fiscal 2022, achieving net sales of $2.3 billion, an increase from $2.0 billion year-over-year. Comparable sales rose by 14.4%, driven by an 8.3% rise in transactions and a 5.6% increase in average ticket size. Net income surged 17.8% to $295.7 million, with diluted EPS climbing 25.0% to $5.70. The company raised its sales outlook for fiscal 2022 to $9.65 billion to $9.75 billion, reflecting strong demand and strategic innovations.

Positive
  • Net sales rose by 16.8% to $2.3 billion.
  • Net income increased by 17.8% to $295.7 million.
  • Diluted EPS grew by 25.0% to $5.70.
  • Comparable sales improved by 14.4%.
Negative
  • Gross profit margin decreased to 40.4% from 40.6%.
  • SG&A expenses increased by 15.1% to $534.5 million.

Net Sales of $2.3 Billion Compared to $2.0 Billion in the Year-Ago Quarter

Comparable Sales Increased 14.4%

Net Income of $295.7 Million or $5.70 Per Diluted Share

Company Raises Outlook for Fiscal Year 2022

BOLINGBROOK, Ill.--(BUSINESS WIRE)-- Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“second quarter”) and twenty-six-week period (“first six months”) ended July 30, 2022 compared to the same periods ended July 31, 2021.

 

 

13 Weeks Ended

 

 

26 Weeks Ended

 

 

July 30,

 

July 31,

 

August 1,

 

 

July 30,

 

July 31,

 

August 1,

(Dollars in millions)

2022

 

2021

 

2020

 

 

2022

 

2021

 

2020

Net sales

 

$

2,297.1

 

$

1,967.2

 

$

1,228.0

 

 

$

4,643.0

 

$

3,905.7

 

$

2,401.2

Comparable sales

 

 

14.4%

 

 

56.3%

 

 

(26.7)%

 

 

 

16.2%

 

 

60.9%

 

 

(31.1)%

Gross profit (as a percentage of net sales)

 

 

40.4%

 

 

40.6%

 

 

26.8%

 

 

 

40.3%

 

 

39.7%

 

 

26.3%

Selling, general and administrative expenses

 

$

534.5

 

$

464.3

 

$

271.6

 

 

$

1,035.4

 

$

908.2

 

$

652.5

Operating income (loss) (as a percentage of net sales)

 

 

17.0%

 

 

16.9%

 

 

1.1%

 

 

 

17.9%

 

 

16.3%

 

 

(3.7)%

Diluted earnings (loss) per share

 

$

5.70

 

$

4.56

 

$

0.14

 

 

$

12.00

 

$

8.66

 

$

(1.25)

New store openings, net

 

 

7

 

 

6

 

 

 

 

 

17

 

 

32

 

 

10

“Strong consumer demand and broad-based momentum across our business continued as our teams executed our plans with excellence,” said Dave Kimbell, chief executive officer. “For the quarter, we delivered double-digit comparable sales growth across all major categories and increased profitability, demonstrating the strength of our model and the commitment of our teams.”

Kimbell continued, “As we look to the second half of the year, we continue to operate in a dynamic environment, but I am confident that our unique model and one-of-a-kind assortment, paired with the strong emotional connection guests have to Beauty, position us well to continue to deliver profitable growth.”

For the Second Quarter of Fiscal 2022

  • Net sales increased 16.8% to $2.3 billion compared to $2.0 billion in the second quarter of fiscal 2021 due to the favorable impact from the continued resilience of the beauty category, the impact of new brands and product innovation, and the easing of COVID-19 restrictions compared to the second quarter of fiscal 2021.
  • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 14.4% compared to an increase of 56.3% in the second quarter of fiscal 2021, driven by an 8.3% increase in transactions and a 5.6% increase in average ticket.
  • Gross profit increased 16.3% to $928.2 million compared to $798.0 million in the second quarter of fiscal 2021. As a percentage of net sales, gross profit decreased to 40.4% compared to 40.6% in the second quarter of fiscal 2021, primarily due to lower merchandise margin and higher inventory shrink, partially offset by leverage of fixed costs and strong growth in other revenue.
  • Selling, general and administrative (SG&A) expenses increased 15.1% to $534.5 million compared to $464.3 million in the second quarter of fiscal 2021. As a percentage of net sales, SG&A expenses decreased to 23.3% compared to 23.6% in the second quarter of fiscal 2021, primarily due to lower marketing expenses and leverage of store payroll and benefits and store expenses due to higher sales, partially offset by deleverage in corporate overhead primarily due to strategic investments and higher incentive compensation.
  • Pre-opening expenses increased to $2.3 million compared to $1.4 million in the second quarter of fiscal 2021.
  • Operating income increased 17.8% to $391.4 million, or 17.0% of net sales, compared to $332.3 million, or 16.9% of net sales, in the second quarter of fiscal 2021.
  • The company’s tax rate increased to 24.5% compared to 24.4% in the second quarter of fiscal 2021.
  • Net income increased 17.8% to $295.7 million compared to $250.9 million in the second quarter of fiscal 2021.
  • Diluted earnings per share increased 25.0% to $5.70, including a $0.01 benefit due to income tax accounting for stock-based compensation, compared to $4.56, including a $0.04 benefit due to income tax accounting for stock-based compensation, in the second quarter of fiscal 2021.

For the First Six Months of Fiscal 2022

  • Net sales increased 18.9% to $4.6 billion compared to $3.9 billion in the first six months of fiscal 2021, primarily due to the favorable impact from the continued resilience of the beauty category, the impact of new brands and product innovation, and the easing of COVID-19 restrictions compared to the first six months of fiscal 2021.
  • Comparable sales increased 16.2% compared to an increase of 60.9% in the first six months of fiscal 2021, driven by a 9.2% increase in transactions and a 6.4% increase in average ticket.
  • Gross profit increased 20.5% to $1.9 billion compared to $1.6 billion in the first six months of fiscal 2021. As a percentage of net sales, gross profit increased to 40.3% compared to 39.7% in the first six months of fiscal 2021, primarily due to leverage of fixed costs, strong growth in other revenue, and favorable channel mix shifts, partially offset by lower merchandise margin and higher inventory shrink.
  • SG&A expenses increased 14.0% to $1.0 billion compared to $0.9 billion in the first six months of fiscal 2021. As a percentage of net sales, SG&A expenses decreased to 22.3% compared to 23.3% in the first six months of fiscal 2021, due to lower marketing expenses and leverage of store payroll and benefits due to higher sales, partially offset by deleverage in corporate overhead primarily due to strategic investments.
  • Pre-opening expenses decreased to $4.6 million compared to $5.9 million in the first six months of fiscal 2021.
  • Operating income increased 30.0% to $829.1 million, or 17.9% of net sales, compared to $637.6 million, or 16.3% of net sales, in the first six months of fiscal 2021.
  • The company’s tax rate was 24.3% compared to 24.4% in the first six months of fiscal 2021.
  • Net income increased 30.3% to $627.1 million compared to $481.2 million in the first six months of fiscal 2021.
  • Diluted earnings per share increased 38.6% to $12.00, including a $0.03 benefit due to income tax accounting for stock-based compensation, compared to $8.66, including a $0.07 benefit due to income tax accounting for stock-based compensation, in the first six months of fiscal 2021.

Balance Sheet

Cash and cash equivalents at the end of the second quarter of fiscal 2022 were $434.2 million.

Merchandise inventories, net at the end of the second quarter of fiscal 2022 totaled $1.67 billion compared to $1.44 billion at the end of the second quarter of fiscal 2021. The $222.4 million increase in inventory was primarily due to the addition of 29 net new stores opened since July 31, 2021, inventory to support new brand launches, inventory cost increases, and inventory receipts to maintain strong in-stocks of key items to support expected demand.

Share Repurchase Program

During the second quarter of fiscal 2022, the Company repurchased 797,994 shares of its common stock at a cost of $301.6 million. During the first six months of fiscal 2022, the Company repurchased 1.1 million shares of its common stock at a cost of $434.4 million. As of July 30, 2022, $1.6 billion remained available under the $2.0 billion share repurchase program announced in March 2022.

Store Update

Real estate activity in the second quarter of fiscal 2022 included seven new stores located in Apopka, FL; Grand Fords, ND; Greenville, SC; Monroe, GA; North Charleston, SC; Saratoga Springs, UT; and Tucson, AZ. In addition, the Company relocated four stores. During the first six months of fiscal 2022, the Company opened 17 new stores and relocated 10 stores.

At the end of the second quarter of fiscal 2022, the Company operated 1,325 stores totaling 13.9 million square feet.

Fiscal 2022 Outlook

Based on the results for the first six months of fiscal 2022 and sales trends experience to date in August, the Company has increased its outlook for fiscal 2022.

The Company’s updated outlook for fiscal 2022 is as follows:

 

Prior FY22 Outlook

 

Updated FY22 Outlook

Net sales

 

 

$9.35 billion to $9.55 billion

 

$9.65 billion to $9.75 billion

Comparable sales

 

 

6% to 8%

 

9.5% to 10.5%

New stores, net

 

 

50

 

no change

Remodel and relocation projects

 

 

35

 

no change

Operating margin

 

 

14.1% to 14.4%

 

14.6% to 14.8%

Diluted earnings per share

 

 

$19.20 to $20.10

 

$20.70 to $21.20

Share repurchases

 

 

approximately $900 million

 

no change

Effective tax rate

 

 

approximately 24.5%

 

no change

Capital expenditures

 

 

$375 million to $425 million

 

$350 million to $400 million

Depreciation and amortization expense

 

 

$250 million to $255 million

 

approximately $250 million

The Company’s outlook for fiscal 2022 assumes a consistent federal tax rate.

Conference Call Information

A conference call to discuss second quarter of fiscal 2022 results is scheduled for today, August 25, 2022, at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts interested in participating in the call are invited to dial (877) 704-4453. The conference call will also be webcast live at https://ulta.com/investor. A replay of the webcast will remain available for 90 days. A replay of the conference call will be available until 11:59 p.m. ET on September 8, 2022 and can be accessed by dialing (844) 512‑2921 and entering conference ID number 13731271.

About Ulta Beauty

At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together all things beauty, all in one place. Today, Ulta Beauty operates 1,325 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com.

Ulta Beauty was recently added to the Bloomberg Gender Equality Index, which tracks the financial performance of public companies committed to supporting gender equality through policy development, representation and transparency. More information about Ulta Beauty’s corporate responsibility efforts can be found at www.ulta.com/investor/ESG.

Forward‑Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation:

  • changes in the overall level of consumer spending and volatility in the economy, including as a result of the COVID-19 pandemic and geo-political events;
  • the impact of current inflationary cost pressures on payroll, benefits, supply chain, and other operating costs;
  • our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan;
  • the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (our replacement enterprise resource planning platform), and supply chain optimization;
  • epidemics, pandemics or natural disasters that have and could continue to negatively impact sales;
  • our ability to gauge beauty trends and react to changing consumer preferences in a timely manner;
  • the possibility that we may be unable to compete effectively in our highly competitive markets;
  • the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information;
  • the possibility of material disruptions to our information systems;
  • the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations;
  • the possibility that the capacity of our distribution and order fulfillment infrastructure and the performance of our distribution centers and fast fulfillment centers may not be adequate to support our expected future growth plans;
  • changes in the wholesale cost of our products;
  • a decline in operating results that has and may continue to lead to asset impairment and store closure charges;
  • the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues;
  • our ability to attract and retain key executive personnel;
  • the impact of climate change on our business operations and/or supply chain;
  • our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs; and
  • other risk factors detailed in the company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10‑K for the fiscal year ended January 29, 2022, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q.

The company’s filings with the SEC are available at www.sec.gov. Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

 

Exhibit 1

Ulta Beauty, Inc.

Consolidated Statements of Income

(In thousands, except per share data)

 

 

 

13 Weeks Ended

 

 

July 30,

 

July 31,

 

 

2022

 

2021

 

 

(Unaudited)

 

(Unaudited)

Net sales

 

$

2,297,113

 

 

100.0

%

 

$

1,967,207

 

100.0

%

Cost of sales

 

 

1,368,949

 

 

59.6

%

 

 

1,169,244

 

59.4

%

Gross profit

 

 

928,164

 

 

40.4

%

 

 

797,963

 

40.6

%

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

534,459

 

 

23.3

%

 

 

464,299

 

23.6

%

Pre-opening expenses

 

 

2,277

 

 

0.1

%

 

 

1,357

 

0.1

%

Operating income

 

 

391,428

 

 

17.0

%

 

 

332,307

 

16.9

%

Interest expense (income), net

 

 

(108

)

 

(0.0

%)

 

 

425

 

0.0

%

Income before income taxes

 

 

391,536

 

 

17.0

%

 

 

331,882

 

16.9

%

Income tax expense

 

 

95,859

 

 

4.2

%

 

 

80,989

 

4.1

%

Net income

 

$

295,677

 

 

12.9

%

 

$

250,893

 

12.8

%

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

5.73

 

 

 

 

$

4.59

 

 

Diluted

 

$

5.70

 

 

 

 

$

4.56

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

Basic

 

 

51,607

 

 

 

 

 

54,675

 

 

Diluted

 

 

51,900

 

 

 

 

 

55,014

 

 

 

Exhibit 2

Ulta Beauty, Inc.

Consolidated Statements of Income

(In thousands, except per share data)

 

 

 

26 Weeks Ended

 

 

July 30,

 

July 31,

 

 

2022

 

2021

 

 

(Unaudited)

 

(Unaudited)

Net sales

 

$

4,643,014

 

100.0%

 

$

3,905,726

 

100.0%

Cost of sales

 

 

2,773,824

 

59.7%

 

 

2,353,975

 

60.3%

Gross profit

 

 

1,869,190

 

40.3%

 

 

1,551,751

 

39.7%

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

1,035,429

 

22.3%

 

 

908,174

 

23.3%

Pre-opening expenses

 

 

4,625

 

0.1%

 

 

5,946

 

0.1%

Operating income

 

 

829,136

 

17.9%

 

 

637,631

 

16.3%

Interest expense, net

 

 

293

 

0.0%

 

 

783

 

0.0%

Income before income taxes

 

 

828,843

 

17.9%

 

 

636,848

 

16.3%

Income tax expense

 

 

201,771

 

4.3%

 

 

155,666

 

4.0%

Net income

 

$

627,072

 

13.5%

 

$

481,182

 

12.3%

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

12.08

 

 

 

$

8.71

 

 

Diluted

 

$

12.00

 

 

 

$

8.66

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

Basic

 

 

51,928

 

 

 

 

55,235

 

 

Diluted

 

 

52,237

 

 

 

 

55,592

 

 

 

Exhibit 3

Ulta Beauty, Inc.

Condensed Consolidated Balance Sheets

(In thousands)

 

 

 

July 30,

 

January 29,

 

July 31,

 

 

2022

 

2022

 

2021

 

 

(Unaudited)

 

 

 

 

(Unaudited)

Assets

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

434,226

 

$

431,560

 

$

770,144

Receivables, net

 

 

180,514

 

 

233,682

 

 

154,416

Merchandise inventories, net

 

 

1,666,130

 

 

1,499,218

 

 

1,443,685

Prepaid expenses and other current assets

 

 

123,014

 

 

110,814

 

 

108,145

Prepaid income taxes

 

 

39,029

 

 

5,909

 

 

18,544

Total current assets

 

 

2,442,913

 

 

2,281,183

 

 

2,494,934

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

912,017

 

 

914,476

 

 

909,507

Operating lease assets

 

 

1,509,246

 

 

1,482,256

 

 

1,470,166

Goodwill

 

 

10,870

 

 

10,870

 

 

10,870

Other intangible assets, net

 

 

1,075

 

 

1,538

 

 

2,001

Deferred compensation plan assets

 

 

33,393

 

 

38,409

 

 

36,396

Other long-term assets

 

 

36,480

 

 

35,647

 

 

30,711

Total assets

 

$

4,945,994

 

$

4,764,379

 

$

4,954,585

 

 

 

 

 

 

 

 

 

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

586,851

 

$

552,730

 

$

535,257

Accrued liabilities

 

 

323,939

 

 

364,797

 

 

313,372

Deferred revenue

 

 

316,571

 

 

353,579

 

 

265,462

Current operating lease liabilities

 

 

274,693

 

 

274,118

 

 

267,442

Accrued income taxes

 

 

 

 

12,786

 

 

Total current liabilities

 

 

1,502,054

 

 

1,558,010

 

 

1,381,533

 

 

 

 

 

 

 

 

 

 

Non-current operating lease liabilities

 

 

1,582,003

 

 

1,572,638

 

 

1,585,539

Deferred income taxes

 

 

40,029

 

 

39,693

 

 

64,535

Other long-term liabilities

 

 

52,840

 

 

58,665

 

 

43,165

Total liabilities

 

 

3,176,926

 

 

3,229,006

 

 

3,074,772

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total stockholders’ equity

 

 

1,769,068

 

 

1,535,373

 

 

1,879,813

Total liabilities and stockholders’ equity

 

$

4,945,994

 

$

4,764,379

 

$

4,954,585

 

Exhibit 4

Ulta Beauty, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

 

 

 

26 Weeks Ended

 

 

July 30,

 

July 31,

 

 

2022

 

2021

 

 

(Unaudited)

 

(Unaudited)

Operating activities

 

 

 

 

 

 

Net income

 

$

627,072

 

 

$

481,182

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

123,721

 

 

 

139,577

 

Non-cash lease expense

 

 

146,251

 

 

 

137,521

 

Deferred income taxes

 

 

336

 

 

 

(824

)

Stock-based compensation expense

 

 

22,875

 

 

 

19,097

 

Loss on disposal of property and equipment

 

 

2,277

 

 

 

1,703

 

Change in operating assets and liabilities:

 

 

 

 

 

 

Receivables

 

 

53,168

 

 

 

38,693

 

Merchandise inventories

 

 

(166,912

)

 

 

(275,470

)

Prepaid expenses and other current assets

 

 

(12,200

)

 

 

(741

)

Income taxes

 

 

(45,906

)

 

 

(61,074

)

Accounts payable

 

 

40,051

 

 

 

59,360

 

Accrued liabilities

 

 

(49,364

)

 

 

17,858

 

Deferred revenue

 

 

(37,008

)

 

 

(8,921

)

Operating lease liabilities

 

 

(163,302

)

 

 

(146,892

)

Other assets and liabilities

 

 

(392

)

 

 

344

 

Net cash provided by operating activities

 

 

540,667

 

 

 

401,413

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

Capital expenditures

 

 

(120,500

)

 

 

(57,305

)

Other investments

 

 

(1,249

)

 

 

 

Net cash used in investing activities

 

 

(121,749

)

 

 

(57,305

)

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

Repurchase of common shares

 

 

(434,448

)

 

 

(635,793

)

Stock options exercised

 

 

24,521

 

 

 

22,808

 

Purchase of treasury shares

 

 

(6,325

)

 

 

(6,974

)

Net cash used in financing activities

 

 

(416,252

)

 

 

(619,959

)

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

 

 

 

(56

)

Net increase (decrease) in cash and cash equivalents

 

 

2,666

 

 

 

(275,907

)

Cash and cash equivalents at beginning of period

 

 

431,560

 

 

 

1,046,051

 

Cash and cash equivalents at end of period

 

$

434,226

 

 

$

770,144

 

 

Exhibit 5

Ulta Beauty, Inc.

Store Update

 
 

 

 

Total stores open

 

Number of stores

 

Number of stores

 

Total stores

 

 

at beginning of the

 

opened during the

 

closed during the

 

open at

Fiscal 2022

 

quarter

 

quarter

 

quarter

 

end of the quarter

1st Quarter

 

1,308

 

10

 

0

 

1,318

2nd Quarter

 

1,318

 

7

 

0

 

1,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross square feet for

 

 

 

 

 

 

Total gross square

 

stores opened or

 

Gross square feet for

 

Total gross square

 

 

feet at beginning of

 

expanded during the

 

stores closed

 

feet at end of the

Fiscal 2022

 

the quarter

 

quarter

 

during the quarter

 

quarter

1st Quarter

 

13,770,438

 

90,905

 

0

 

13,861,343

2nd Quarter

 

13,861,343

 

61,257

 

0

 

13,922,600

 

Exhibit 6

Ulta Beauty, Inc.

Sales by Category

 

The following tables set forth the approximate percentage of net sales by primary category:

 

 

 

13 Weeks Ended

 

 

July 30,

 

July 31,

 

2022

 

2021

Cosmetics

 

42%

 

43%

Haircare products and styling tools

 

22%

 

21%

Skincare

 

17%

 

17%

Fragrance and bath

 

12%

 

12%

Services

 

4%

 

4%

Accessories and other

 

3%

 

3%

 

 

100%

 

100%

 

 

 

 

 

 

 

26 Weeks Ended

 

 

July 30,

 

July 31,

 

 

2022

 

2021

Cosmetics

 

43%

 

44%

Haircare products and styling tools

 

21%

 

20%

Skincare

 

17%

 

18%

Fragrance and bath

 

12%

 

11%

Services

 

4%

 

4%

Accessories and other

 

3%

 

3%

 

 

100%

 

100%

 

Investor Contact:

Kiley Rawlins, CFA

Vice President, Investor Relations

krawlins@ulta.com

Media Contact:

Eileen Ziesemer

Vice President, Public Relations

eziesemer@ulta.com

(708) 305-4479

Source: Ulta Beauty, Inc.

FAQ

What were Ulta's Q2 2022 earnings results?

Ulta reported net sales of $2.3 billion and net income of $295.7 million for Q2 2022.

How did Ulta's comparable sales perform in Q2 2022?

Comparable sales increased by 14.4% in Q2 2022.

What is Ulta's updated fiscal 2022 outlook?

The updated outlook for fiscal 2022 includes net sales projected between $9.65 billion and $9.75 billion.

What is the diluted EPS for Ulta in Q2 2022?

Diluted earnings per share for Q2 2022 increased to $5.70.

How much did Ulta spend on share repurchases in Q2 2022?

Ulta repurchased $301.6 million worth of its common stock in Q2 2022.

Ulta Beauty, Inc.

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