Ulta: E-commerce Drives Q1 Net Income Boost

For the 13-week first quarter ended May 3, Ulta Beauty has announced that net income was $50 million versus $41.8 million in last year’s period. Income per diluted share increased to 77 cents compared to 65 cents in the first quarter of fiscal 2013.

A Thomson Reuters average analyst estimate for diluted earnings per share was 74 cents.

Net income advance 22.5% to $713.8 million from last year’s quarter, the company stated while comparable store sales increased 8.7%.

The company noted that quarterly E-commerce comps gained 72.3% year over year, representing 190 basis points of the total company comp.

Operating income grew 19.5% to $80.9 million, or 11.3% of net sales versus to $67.7 million, or 11.6% of net sales, in the 2013 first quarter.

In the 2014 quarter, Ulta opened 21 stores. As of May 3, Ulta operates 696 retail stores in 46 of the United States as well as the website www.ulta.com.