Ulta Beauty Announces Second Quarter Fiscal 2023 Results

“The Ulta Beauty team delivered another quarter of strong performance, with sales, gross profit, and SG&A expenses all better than our internal expectations. During the quarter, we drove growth across all major categories, increased the number of loyalty members, and strengthened engagement with the Ulta Beauty brand. In addition, our teams achieved important milestones for our multi-year, transformational investment agenda designed to drive efficiencies and support our future growth,” said Dave Kimbell, chief executive officer. “The beauty category has continued to deliver healthy growth, as consumers maintain their post-pandemic routines and expand their definition of beauty. Our proven business model, diverse assortment, best-in-class loyalty program, and outstanding teams have enabled us to deliver stronger-than expected results for the first half of fiscal 2023, and I remain confident we can deliver against our updated expectations for the rest of the year.”

*Net sales increased 10.1% to $2.5 billion compared to $2.3 billion in the second quarter of fiscal 2022 primarily due to increased comparable sales, strong new store performance, and growth in other revenue.
*Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.0% compared to an increase of 14.4% in the second quarter of fiscal 2022, driven by a 9.0% increase in transactions and a 1.0% decrease in average ticket.
*Gross profit increased 7.1% to $993.6 million compared to $928.2 million in the second quarter of fiscal 2022. As a percentage of net sales, gross profit decreased to 39.3% compared to 40.4% in the second quarter of fiscal 2022, primarily due to lower merchandise margin, higher inventory shrink, and higher supply chain costs, partially offset by strong growth in other revenue and leverage of store fixed costs.
*Operating income increased to $391.6 million, or 15.5% of net sales, compared to $391.4 million, or 17.0% of net sales.
*Net income increased to $300.1 million compared to $295.7 million.
details at: https://www.ulta.com/investor/news-events/press-releases/detail/170/ulta-beauty-announces-second-quarter-fiscal-2023-results

Related Posts

Vera Magazine Virgin Atlantic

The coolest British brand in the skies? Virgin Atlantic. But don’t take our word for it – the airline is regularly voted the best British travel brand in CoolBrand’s annual report. Which is why it made perfect sense for Virgin Atlantic to pair up with Ink to reimagine its inflight magazine, Vera, and manage their ambient advertising on the ground and in the air. If you’re lucky enough to be travelling onboard a Virgin Atlantic flight to the US, Caribbean, Africa, Middle East or Asia this month, you’ll get a chance to flick through the gorgeous, new-look Vera. The new magazine is packed with stories cleverly relating to Virgin Atlantic’s award-winning onboard entertainment and dazzling destinations. For the relaunch, we bagged an exclusive interview and cover shoot with English rose turned Hollywood golden girl Annabelle Wallis. Readers can watch her go toe-to-toe with Tom Cruise in The Mummy, and then read about how she deals with her high-profile relationship with rock star Chris Martin, saving us all in an Apocalypse (probably), and life lessons she learned from Madonna. And during the shoot we got to see those life lessons IRL. If you’ve seen Annabelle star in Peaky Blinders you’ll already have heard her sultry singing voice, but at London’s Claridge’s she gave us an impromptu performance of her favourite Madonna hits. We won’t forget her Like a Virgin in a hurry. Click Read More below for more of the story.

Stein Mart, Inc. Voluntarily Files Chapter 11 Bankruptcy

Details on the Company’s Chapter 11 process and go-forward strategy are as follows: The Company expects to close a significant portion, if not all, of its brick-and-mortar stores and, in connection therewith, the Company has launched a store closing and liquidation process. The Company, however, will continue to operate its business in the ordinary course in the near term; and The Company is evaluating any and all strategic alternatives, including the potential sale of its eCommerce business and related intellectual property.

Service Performance Holds Steady for All Mail Categories As USPS Addresses Multiple Operational Challenges

The United States Postal Service reported new service delivery performance metrics for the first week of the fiscal second quarter showing service performance holding steady for First-Class Mail, Marketing Mail and Periodicals. Consistent with the rest of the shipping industry, the organization experienced some minor delays in both ground and air transportation during the week of January 1-7. The Postal Service continues to address impacts to last mile delivery due to availability challenges due to COVID-19 cases and inclement weather events including winter storms on the East Coast, Midwest and West Coast. Second quarter-to-date service performance scores covering the period Jan.1 through Jan. 7 included: *First-Class Mail: 90 percent of First-Class Mail delivered on time against the USPS service standard, an improvement of .37 percentage points from the first quarter. *Marketing Mail: 91.7 percent of Marketing Mail delivered on time against the USPS service standard, a slight decrease of .46 percentage points from the first quarter. Periodicals: 81.1 percent of Periodicals delivered on time against the USPS service standard, with an improvement of .37 percentage points from the first quarter.
Back To Top
×Close search
Search