Ulta Beauty posts Q2 results
BOLINGBROOK, Ill. — Ulta Beauty experienced an increase in second-quarter same-store sales and net income as it continues to move forward with its multiyear growth strategy.
“We are very pleased to report excellent results for the second quarter. The team drove strong sales and profit growth by continuing to focus on the five components of our multiyear growth strategy: accelerating store growth; introducing new products, services and brands; enhancing our loyalty program; broadening our marketing reach; and increasing our digital focus with Ulta.com. Second-quarter highlights include strong new-store productivity and solid execution of our accelerated new store program,” stated Chuck Rubin, president and CEO.
Rubin said he is pleased with the progress of the rollout of the 50 additional Lancôme boutiques it announced last quarter, and announced the addition of Clinique boutiques in 35 additional stores in light of the success of the 13 stores currently offering Clinique. Its loyalty program reached the milestone of 10 million active customers with 50% of the stores now on the new points program.
Net sales for the quarter ended July 28 rose 22.1% to $481.7 million. Same-store sales increased 9.3%.
Net income increased 46.4% to $35.0 million compared with $23.9 million in the second quarter of fiscal 2011. Income per diluted share increased 42.1% to 54 cents compared with 38 cents in the second quarter of fiscal 2011.