Ulta Beauty has posted yet another stratospheric sales gain for the first quarter of the year. The company posted a 23.7 percent rise in net sales to US$1.073 billion for the quarter ended April 30.
“We are off to a phenomenal start to the year, delivering excellent top and bottom line growth in the first quarter,” said Mary Dillon, Chief Executive Officer. “Several positive factors are coming together to drive the momentum in our business, exemplified by the best comparable sales growth in our history as a public company. These include health consumer demand in the beauty category, our unique format and offering which are supporting sustained share gains, and effective collaboration across the enterprise to ensure strong execution of our growth strategies.”
Comparable sales were up 15.2 percent year-on-year, driven by an 11 percent growth in trafiic and a 4.2 percent growth in average spend. E-commerce was a particular highlight, with sales increasing 38.8 percent to US$61 million.
The best-performing brands for the quarter included Urban Decay, IT cosmetics, NYX, Tarte, Clinique, Lancôme, Benefit and Ulta’s own Beauty Collection, Dillon revealed on the company’s earnings call.
Net income was up 37.4 percent to US$92 million on the same period in 2015, with income per diluted share rising 39.4 percent to US$1.45.
The company raised its outlook for 2016, anticipating comparable sales growth of 10 to 12 percent, versus the 8 to 10 percent previously forecast and earnings per share in the low twenties percentage range, compared to previous guidance of 18 to 20 percent.
