Ulta Beauty sees 'excellent top line growth' in Q4

BOLINGBROOK, Ill. — Beauty retailer Ulta Beauty posted double-digit sales gains for the fourth-quarter and a 9.5% boost in net income.



“Ulta Beauty achieved excellent top line growth in the fourth quarter,” stated Mary Dillon, CEO of Ulta Beauty. “We delivered earnings growth consistent with our expectations and made significant progress with our key growth strategies. I am very proud of the team’s accomplishments during 2013, including the completion of the most ambitious store opening program in our company’s history; the addition of 25 significant new brands contributing to 7.9% annual comparable store sales growth; exciting growth in our loyalty program, now 13 million members strong; and rapid growth in Ulta.com, driven by major steps forward in our e-commerce platform and fulfillment capabilities.”



Net sales for the quarter ended Feb. 1 rose 14.4% to $868.1 million. Excluding the sales of the 53rd week of fiscal 2012, sales rose 23.3%. Same-store sales rose 9.2% during the quarter. E-commerce comparable sales grew 82.5%.



Net income for the quarter rose 9.5% to $70.7 million, or $1.09 per diluted share, compared with $64.5 million, or $1 per diluted share, in the year-ago period.



For the fiscal year, sales rose 20.3% to $2.67 billion. Excluding sales for the 53rd week in fiscal 2012, sales rose 23.3%. Same-store sales for the year rose 7.9%. E-commerce comparable sales grew 76.6%.



Net income for the year rose 17.6% to $202.8 million, or $3.15 per diluted share, compared with $172.5 million, or $2.68 per diluted share, in the year-ago period.