Ulta Beauty ( (ULTA) ) has released its Q4 earnings. Here is a breakdown of the information Ulta Beauty presented to its investors.
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Ulta Beauty is the largest specialty beauty retailer in the United States, offering a wide range of cosmetics, skincare, haircare, and salon services across its 1,445 stores nationwide.
In its latest earnings report for the fourth quarter of fiscal 2024, Ulta Beauty announced net sales of $3.5 billion, a slight decrease from the previous year’s $3.6 billion, primarily due to an extra week of sales in fiscal 2023. Despite this, the company achieved a net income of $393.3 million, with diluted earnings per share rising to $8.46 from $8.08 in the prior year.
Key financial highlights include a 1.5% increase in comparable sales, driven by a 3.0% rise in average ticket value, although transactions decreased by 1.4%. Gross profit margins improved slightly to 38.2% due to lower inventory shrink and favorable channel mix. The company also opened nine new stores and repurchased 620,053 shares of its common stock during the quarter.
Looking ahead, Ulta Beauty’s management remains optimistic about fiscal 2025, with plans to open approximately 60 new stores and remodel 40-45 locations. The company aims for net sales between $11.5 billion and $11.6 billion, with a focus on strategic investments to fuel future growth and enhance shareholder value.