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Ulta Paints A Pretty Q2 Financial Picture

In the second quarter, Ulta Beauty net income increased 46.4% to $35 million, the company stated. In the 13 week period ended July 30, income per diluted share increased to 54 cents compared to 38 cents in the second quarter of fiscal 2011.

Comparable store sales gained 9.3% in the second quarter while net sales increased 22.1% to $481.7 million. Operating income increased 44.9% to $57.5 million, or 11.9% of net sales as compared 10.1% of net sales in the fiscal 2011 second quarter.

Chuck Rubin, Ulta president and CEO said, in commenting on second quarter results, “The team drove strong sales and profit growth by continuing to focus on the five components of our multi-year 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 Second quarter highlights include strong new store productivity and solid execution of our accelerated new store program. Our rich pipeline of new products and brands continues to drive traffic and market share gains. We are pleased with our progress with the roll out of the 50 additional Lancôme boutiques we announced last quarter. We are also excited to announce the addition of Clinique boutiques in 35 additional stores in light of the success of the 13 stores currently offering Clinique. Our loyalty program reached the milestone of 10 million active customers with 50% of the stores now on the new points program. All of these strategies combined to drive gains in market share and awareness, and continued to position Ulta as the beauty authority. Most importantly, our 15,000 associates are creating a fun, inviting environment to make Ulta the place where guests are increasingly choosing to shop.”

Real estate activity in the second quarter included 22 store openings, one relocation and nine remodels compared to 21 store openings and 15 remodels in the 2011 period.