Ulta Beauty posts 3Q results

BOLINGBROOK, Ill. — Ulta Beauty posted a double-digit gain in third-quarter sales and net income and bolstered market share across all of its major product categories, the beauty retailer announced on Thursday.

For the quarter ended Oct. 27, net sales rose 22.4% to $505.6 million from $413.1 million in the year-ago period. Same-store sales rose 8.4%.

Net income rose 42.5% to $38.2 million for the quarter. Income per diluted share rose 40.5% to 59 cents per share compared with 42 cents per share in the year-ago period.

During the quarter, Ulta opened 49 stores, increasing its store base by 10% during a single quarter, and completed most of the previously announced prestige brand boutiques. It ended the quarter with Lancôme boutiques in 79 of its stores and Clinique boutiques in 42 stores. The company ended the third quarter with a total of 537 stores.

Looking ahead to next year, Ulta expects to exceed its long-term plans for 15% to 20% annual store growth and currently plans to open approximately 125 stores in 2013, representing 22% square footage growth, the company stated.