Ulta Beauty Announces Fourth Quarter Fiscal 2021 Results

“Our fiscal year ended with better-than-expected performance, reflecting excellent, enterprise-wide execution against our fourth quarter plans as well as stronger consumer demand and the strength of Ulta Beauty’s differentiated model,” said Dave Kimbell, chief executive officer. “I want to express my sincere appreciation to all Ulta Beauty associates who continue to provide exceptional care and service to our guests and to each other, while successfully navigating pandemic-related challenges and delivering strong results for all our stakeholders.”

For the Fourth Quarter of Fiscal 2021:
*Net sales increased 24.1% to $2.7 billion compared to $2.2 billion in the fourth quarter of fiscal 2020 due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions compared to the fourth quarter of fiscal 2020.
*Comparable sales (sales for stores open at least 14 months, including stores temporarily closed due to COVID-19, and e-commerce sales) increased 21.4% compared to a decrease of 4.8% in the fourth quarter of fiscal 2020, driven by a 10.4% increase in transactions and a 9.9% increase in average ticket. Compared to the fourth quarter of fiscal 2019, comparable sales increased 15.4%.
*Gross profit increased to $1.0 billion compared to $771.0 million in the fourth quarter of fiscal 2020. As a percentage of net sales, gross profit increased to 37.6% compared to 35.1% in the fourth quarter of fiscal 2020, primarily due to leverage of fixed costs, favorable channel mix shifts, and improvement in merchandise margins.
*Selling, general and administrative (SG&A) expenses increased to $650.0 million compared to $514.1 million in the fourth quarter of fiscal 2020. As a percentage of net sales, SG&A expenses increased to 23.8% compared to 23.4% in the fourth quarter of fiscal 2020, primarily due to higher incentive compensation and store payroll and benefits, partially offset by leverage in marketing expenses due to higher sales.
*Net income increased to $289.4 million compared to $171.5 million in the fourth quarter of fiscal 2020. Adjusted net income for the fourth quarter of fiscal 2020 was $193.4 million.
details at: https://www.ulta.com/investor/news-events/press-releases/detail/147/ulta-beauty-announces-fourth-quarter-fiscal-2021-results

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