Happi Staff12.04.20
Ulta Beauty Inc. has announced financial results for the thirteen-week period (third quarter) and thirty-nine-week period (first nine months) ended October 31, 2020 compared to the same periods ended November 2, 2019.
During the third quarter of fiscal 2020, net sales decreased 7.8% to $1.6 billion compared to $1.7 billion in the third quarter of fiscal 2019. For the first nine months of Fiscal 2020, net sales decreased 22.4% to $4.0 billion compared to $5.1 billion in first nine months of fiscal 2019. The company’s financial results continue to be impacted by the Covid-19 pandemic and efforts to contain it.
On March 19, 2020, Ulta Beauty temporarily closed all stores in response to the spread of Covid-19. On April 19, 2020, the company introduced curbside pickup, and on May 11, 2020, it started a phased store reopening process. Ulta began the fourth quarter with nearly all stores open for retail. However, as Covid-19 prevalence increases, market-specific government restrictions may also increase, resulting in reduced operating hours, limitations on in-store capacity, and in some cases, mandated store closures.
“While it is difficult to predict future impacts of the pandemic on demand this holiday season, we have increased our sales expectations for the fourth quarter and now anticipate comparable store sales will decline in the range of 12% to 14%,” commented Mary Dillon, CEO. "We know this holiday season will be like no other, but our team is ready and excited to help our guests see the joy of the season.”
During the third quarter of fiscal 2020, net sales decreased 7.8% to $1.6 billion compared to $1.7 billion in the third quarter of fiscal 2019. For the first nine months of Fiscal 2020, net sales decreased 22.4% to $4.0 billion compared to $5.1 billion in first nine months of fiscal 2019. The company’s financial results continue to be impacted by the Covid-19 pandemic and efforts to contain it.
On March 19, 2020, Ulta Beauty temporarily closed all stores in response to the spread of Covid-19. On April 19, 2020, the company introduced curbside pickup, and on May 11, 2020, it started a phased store reopening process. Ulta began the fourth quarter with nearly all stores open for retail. However, as Covid-19 prevalence increases, market-specific government restrictions may also increase, resulting in reduced operating hours, limitations on in-store capacity, and in some cases, mandated store closures.
“While it is difficult to predict future impacts of the pandemic on demand this holiday season, we have increased our sales expectations for the fourth quarter and now anticipate comparable store sales will decline in the range of 12% to 14%,” commented Mary Dillon, CEO. "We know this holiday season will be like no other, but our team is ready and excited to help our guests see the joy of the season.”
