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Ulta Makes Q3 Gains But Misses Wall Street Estimates

For the third quarter ended November 2, Ulta Beauty announced that net income increased to $45.4 million versus $38.2 million in the fiscal 2012 period. Income per diluted share advanced to 70 cents versus 59 cents in the third quarter of fiscal 2012.

A severance charge decreased net income per diluted share by two cents.

Results missed a Zachs Consensus Analyst estimate of 74 cents per diluted share.

Comparable store sales gained 6.8% versus the year-earlier period. Ulta includes online sales in its comp figures. Net sales increased 22.4% to $618.8 million, the company stated. Operating income increased to $72.9 million, or 11.8% of net sales, versus $61.3 million, or 12.1% of net sales, in the third quarter of fiscal 2012.

“The Ulta Beauty team delivered solid top line growth, with particular strength in our on-line sales, despite a challenging environment,” said Mary Dillon, Ulta CEO. “We also made significant progress on our growth strategies, including opening a record number of new stores, seamlessly rolling out a new e-commerce site while maintaining strong top-line momentum, completing this year’s roll-out of Clinique and Lancôme boutiques, and continuing to launch new and exclusive products and brands.”