12.03.21
Ulta Beauty, Inc.’s net sales for the third quarter reached $2 billion, company officials announced today.
The figure represents an increase of 28.6%, compared with the prior-year quarter earnings, which was $1.6 billion.
Company officials attribute that success to increasing its market share and expanding its Ultamate Rewards loyalty program to nearly 36 million members in 1,302 of its operating stores.
“This strong third quarter performance reflects the strength and resiliency of the Beauty category, the power of the Ulta Beauty differentiated model, and the impact of our winning culture and team,” said Dave Kimbell, chief executive officer. “I want to express my sincere appreciation to all of our Ulta Beauty associates for their incredible efforts to serve our guests and deliver these excellent results.”
Sales for stores open at least 14 months, including stores temporarily closed due to COVID-19 and e-commerce sales increased 25.8% compared to a decrease of 8.9% in the third quarter of fiscal year 2020.
Gross profit this quarter increased to $789.5 million compared to $545.5 million in the prior-year quarter. As a percentage of net sales, gross profit increased to 39.6% compared to 35.1% in the third quarter of fiscal 2020, due mainly to leverage of fixed costs and salon expenses, favorable channel mix shifts and improvement in merchandise margins.
Real estate activity in the third quarter of fiscal 2021 included seven new stores in Arden, NC; Atlanta, GA; Batavia, NY; Greensboro, NC; Hickory, NC; Ithaca, NY; and Johnstown, PA. In addition, Ulta Beauty, Inc. relocated two stores, remodeled three stores and closed one store.
In the first nine months of fiscal 2021, Ulta Beauty, Inc. opened 42 new stores, relocated four stores, remodeled eight and closed four.
