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
Ulta Beauty Inc delivered exceptional financial performance in Q4 2023, marked by a 10.2% increase in net sales to $3.6 billion and a diluted EPS of $8.08. The results were driven by robust traffic trends, effective marketing campaigns, and significant growth in digital channels. More than half of the year-over-year increase was attributed to new product launches, enhanced store experiences, and strengthening of their loyalty program, culminating in improved member retention and acquisition. The company remains optimistic about continued growth in the beauty sector despite facing competitive intensity and external market pressures moving into fiscal 2024.
Key Performance Indicators
Revenue
3.55B
QoQ: 0.00% | YoY:34.93%
Gross Profit
1.34B
37.72% margin
QoQ: 0.00% | YoY:27.08%
Operating Income
520.20M
QoQ: -0.60% | YoY:16.97%
Net Income
394.37M
QoQ: 0.00% | YoY:13.63%
EPS
8.13
QoQ: 0.00% | YoY:17.49%
Revenue Trend
Margin Analysis
Key Insights
**Revenue**: $3.6 billion (Q4), up 10.2% YoY. **Gross Profit**: $1.34 billion, with a gross margin of 37.7%. **Operating Income**: $520 million, representing 14.5% of sales. **Net Income**: $394.4 million, a 13.6% increase YoY. **EPS**: $8.08, up 21% YoY. **Comparable Sales**: Increased by 2.5%, driven by a 4.5% rise in transactions. Key metrics indicate resilience with digital channels growing high single digits amid promotional pressures in prestige categories. Management noted effective exp...