Ulta Beauty Announces Fourth Quarter Fiscal 2017 Results

Net Sales Increased 22.6%
Comparable Sales Increased 8.8%
Diluted EPS Increased 51.8% to $3.40, Including $0.65 Net Benefit from Tax Reform Related Items
Company Issues One-Time Bonuses for Hourly Associates
Company Approves New Share Repurchase Authorization of $625 Million

Ulta Beauty, Inc. (NASDAQ:ULTA) today announced financial results for the fourth quarter and full year of fiscal 2017 ended February 3, 2018, both of which contain one additional week (“53rd week”) versus the comparable prior periods.

“The Ulta Beauty team delivered excellent results in 2017, achieving 11 percent comparable sales growth and 25 percent adjusted earnings growth,” said Mary Dillon, Chief Executive Officer. “We also achieved strong sales and earnings growth in Q4 while continuing to gain market share and make significant progress on our strategic imperatives, despite continued moderation in the growth rate of makeup, our largest category.”

For the Fourth Quarter of Fiscal 2017
• Net sales increased 22.6% to $1,937.6 million compared to $1,580.6 million in the fourth quarter of fiscal 2016. Excluding the impact of the 53rd week in fiscal 2017, net sales increased 15.7%;
• Net sales in the 53rd week were $108.8 million and represented approximately $0.14 of diluted earnings per share;
• Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.8% compared to an increase of 16.6% in the fourth quarter of fiscal 2016. The 8.8% comparable sales increase was driven by 6.2% transaction growth and 2.6% growth in average ticket;
• Retail comparable sales increased 4.2%, including salon comparable sales growth of 3.2%;
• Salon sales increased 17.2% to $73.7 million compared to $62.9 million in the fourth quarter of fiscal 2016. Excluding the impact of the 53rd week in fiscal 2017, salon sales increased 8.7%;
• E-commerce sales increased 60.4% to $248.3 million, including the benefit of the 53rd week, compared to $154.9 million in the fourth quarter of fiscal 2016. E-commerce comparable sales increased 50.4%, representing 460 basis points of the total company comparable sales increase of 8.8%;
• Gross profit as a percentage of net sales decreased 50 basis points to 34.0% compared to 34.5% in the fourth quarter of fiscal 2016. Gross profit decreased 30 basis points due to deleverage in merchandise margins and 20 basis points due to a one-time bonus payment related to tax reform;
more detail at:  http://ir.ultabeauty.com/news-releases/news-release-details/2018/Ulta-Beauty-Announces-Fourth-Quarter-Fiscal-2017-Results/default.aspx

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