Ulta continues 'positive momentum' in Q4

BOLINGBROOK, Ill. — Ulta posted double-digit gains in same-store sales and net income during the fourth quarter.

Net sales for the quarter ended Jan. 28 rose 23% to $582.5 million. Same-store sales rose 11.5%, compared with an increase of 10.4% during the year-ago period.

Net income increased 53.8% to $46.3 million, or 73 cents per diluted share, compared with $30.1 million, or 49 cents per diluted share, in the year-ago period.

“As we look forward into 2012 and beyond, we are focused on building upon our successful strategies and determining priorities for the strong cash position we have developed,” stated Chuck Rubin, president and CEO. “Given the attractive returns from our new store program, we are further accelerating our square footage growth in 2012 to approximately 22%, or 100 new locations.”

Rubin also noted that its board of directors has declared a special cash dividend of $1 per share to shareholders of record as of March 20, with a payment date of May 15.

For the first quarter of fiscal 2012, the company expects net sales to be in the range of $452 million to $460 million, compared with actual net sales of $386 million in the first quarter of fiscal 2011. This assumes a comparable-store sales increase of 6% to 8%, compared with an 11% increase last year.