Ulta has announced its results for the first quarter of fiscal 2017. The US beauty retailer saw net sales soar 22.5 percent to US$1.315 billion, with same store sales climbing 14.3 percent and e-commerce putting on an impressive 70.9 percent to US$104.3 million.
“The Ulta Beauty team kicked off 2017 with an excellent performance in the first quarter,” said Mary Dillon, CEO. “Strong execution of our growth strategies delivered above plan sales and earnings growth. Our results reflect continued newness and innovation in merchandising, successful marketing programs, steady progress in our salon business and exceptional growth in e-commerce.”
As a result, the company raised its fiscal 2017 comparable sales guidance to growth of 9 to 11 percent, with e-commerce expected to grow in the 50 percent range. Earnings per share growth has been adjusted upwards to the mid-twenties percent range.
Ulta plans to open approximately 100 new stores, remodel 11 locations and relocate 6 stores over the course of the year.