Ulta Beauty had a strong end to its 2018 fiscal year as the beauty specialty store reported near double-digit comparable store sales gains for the fourth quarter.
For the 13-week quarter ended February 2, net sales increased 9.7% to $2.12 billion. Excluding sales from the 53rd week of the fourth quarter in fiscal 2017, sales were up 16.2%. Net income for the quarter was $214.7 million, or $3.61 per diluted share, up from net income of $208.2 million, or $3.40 per diluted share, in the comparable quarter the previous year.
Comparable store sales were up 9.4% driven by a 7.1% increase in transaction growth and 2.3% growth in average ticket. E-commerce comparable sales in the quarter were up 25.1%.
For the full fiscal year, total sales increased 14.1% to $6.7 billion. Annual net income was $658.6 million, or $10.94 per diluted share, compared with net income of $555.2 million, or $8.96 per diluted share, in the prior fiscal year.
Comparable store sales were up 8.1% with full-year e-commerce sales up 35.4%.
Looking ahead, Ulta plans to open 80 new stores, remodel or relocate 20 stores and refresh an additional 270 stores. The company is forecasting comparable store sales growth of between 6% and 7%.