Ulta Beauty issues preliminary Q1 results

BOLINGBROOK, Ill. — Beauty retailer Ulta Beauty announced on Monday preliminary first-quarter fiscal 2012 results, which included an expected same-store sales increase of 10.1%.



Ulta Beauty expects to report that total net sales for the quarter were $474 million, compared with its previous guidance of $452 million to $460 million. The expected results are a 22.8% increase from total net sales of $386 million for first quarter fiscal 2011.



Comparable-store sales for first quarter fiscal 2012 are now expected to increase 10.1%, exceeding the company’s previous guidance for comparable-store sales to increase in a range of 6% to 8%. Following first quarter fiscal 2011 comparable-store sales increase of 11.1%, the expected result for first quarter fiscal 2012 represents a two year comparable-store sales increase of 21.2%, the company stated.



Income per diluted share for first quarter fiscal 2012 is now expected to be in the range of 52 cents to 53 cents, reflecting an increase of approximately 42% compared with income per diluted share of 37 cents for first quarter fiscal 2011. As planned, the expected income per diluted share for first quarter fiscal 2012 includes incremental pre-opening expense from the company’s accelerated new store program, which will have a negative impact of 1 cents on income per diluted share compared with first quarter fiscal 2011. The company’s previous guidance for income per diluted share was 46 cents to 48 cents. The company opened 18 new stores in first quarter fiscal 2012 compared with five in first quarter fiscal 2011.



The company’s results of operations for first quarter fiscal 2012 have not been finalized; the preliminary, unaudited information reflects the company’s expectations with respect to results of operations for the first quarter based on currently available information.



The retailer expects to announce its first quarter fiscal 2012 results after market close on June 5.