ULTA
Ulta Beauty Inc
Q3 2024 Report
Ulta Beauty Inc (ULTA) Q3 2024 Financial Results: Resilience Amidst Competitive Pressures...
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Executive Summary
In the Q1 results for fiscal 2024, Ulta Beauty Inc (ULTA) reported a net sales increase of 3.5% year-over-year, reaching $2.7 billion, supported by a 1.6% growth in comparable sales. The company highlighted its strong position in the beauty retail sector, driven by effective marketing strategies and brand partnerships. Despite challenges in the prestige ecommerce category and reduced market share in certain areas, management expressed confidence in their operational model and growth initiatives. The adjusted full-year guidance anticipates net sales between $11.5 billion to $11.6 billion, with comparable sales growth projected at 2% to 3%. This strategic focus on innovation, customer engagement, and rightsizing expenses positions Ulta to navigate competitive pressures effectively.
Key Performance Indicators
Revenue
2.73B
QoQ: -23.31% | YoY:7.75%
Gross Profit
1.07B
39.20% margin
QoQ: -20.20% | YoY:7.67%
Operating Income
403.87M
QoQ: -21.90% | YoY:3.12%
Net Income
313.11M
QoQ: -20.60% | YoY:4.34%
EPS
6.51
QoQ: -19.93% | YoY:7.60%
Revenue Trend
Margin Analysis
Key Insights
- Revenue: $2.73 billion (+3.5% YoY)
- Comp Sales Growth: 1.6%
- Gross Margin: 39.2% (-80 bps YoY)
- Operating Income: $403.87 million (14.7% of sales)
- Net Income: $313.11 million (+4.34% YoY)