Higher prices at the checkout are not deterring shoppers from stocking up on makeup and skin care at UltaBeauty.
Chief financial officer Scott Settersten added that Ulta is pleased with the sales trends witnessed through the Thanksgiving holiday shopping weekend, including Cyber Monday.
Within that, cosmetics sales rose 44 percent, hair care 21 percent, skin care 16 percent, fragrance and bath 12 percent, services 4 percent and accessories 3 percent. Ulta also increased market share in prestige beauty, compared with the same quarter in the prior year, although mass generally outperformed prestige.
Net income increased 27.5 percent to $274.6 million. Diluted earnings per share increased 35.5 percent to $5.34. Analysts had penciled in $4.15. “Amidst a challenging macro environment, the Ulta Beauty team delivered yet another outstanding quarter, with strong top and bottom-line results and growth across all major categories and channels,” Kimbell noted. “Our third-quarter results reflect the sustained resilience of the beauty category and the strong emotional connection and loyalty we have cultivated with our guests.”
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