AI English summary of an SEC filing — figures as filed
Ulta Beauty ULTAUlta Beauty said net sales for the 13 weeks ended May 4, 2024 rose $91.6 million (3.5%) to $2.7 billion. It said comparable sales increased 1.6%, reflecting a 1.3% increase in transactions and a 0.3% increase in average ticket.
Key points
AI summaryUlta Beauty said net sales for the 13 weeks ended May 4, 2024 rose $91.6 million (3.5%) to $2.7 billion. It said comparable sales increased 1.6%, reflecting a 1.3% increase in transactions and a 0.3% increase in average ticket.
The company said gross profit margin for the 13 weeks was 39.2%, down from 40.0% a year earlier. SG&A expenses rose 8.8% to $665.9 million, or 24.4% of net sales. It said net income was $313.1 million, compared with $347.1 million a year earlier.
The company said it had cash and cash equivalents of $524.6 million as of May 4, 2024, compared with $766.6 million as of February 3, 2024. It cited timing differences in accounts payable, a decrease in net income, and a larger increase in merchandise inventories as factors behind the decrease in net cash provided by operating activities.
The company said its board of directors approved a new 2024 Share Repurchase Program of up to $2.0 billion in March 2024, which replaces the unused authorization under the 2022 Share Repurchase Program. It cited higher share repurchases as the main factor behind the increase in net cash used in financing activities.
Key figures
Quarter ended May 4, 2024
- Revenue
- $2.7B
- Operating income
- $401M
- Net income
- $313M
- EPS
- $6.47
- Gross profit
- $1.1B
- Operating cash flow
- $159M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Net sales for 13 weeks rose $2.7 billion, or 3.5%
Ulta Beauty said net sales for the 13 weeks ended May 4, 2024 rose $91.6 million (3.5%) to $2.7 billion. It said comparable sales increased 1.6%, reflecting a 1.3% increase in transactions and a 0.3% increase in average ticket.
Source · Based on the MD&A text of the filing
Gross margin 39.2%, SG&A share 24.4%
The company said gross profit margin for the 13 weeks was 39.2%, down from 40.0% a year earlier. SG&A expenses rose 8.8% to $665.9 million, or 24.4% of net sales. It said net income was $313.1 million, compared with $347.1 million a year earlier.
Source · Based on the MD&A text of the filing
Cash $524.6 million, operating cash flow down
The company said it had cash and cash equivalents of $524.6 million as of May 4, 2024, compared with $766.6 million as of February 3, 2024. It cited timing differences in accounts payable, a decrease in net income, and a larger increase in merchandise inventories as factors behind the decrease in net cash provided by operating activities.
Source · Based on the MD&A text of the filing
2024 Share Repurchase Program up to $2.0 billion
The company said its board of directors approved a new 2024 Share Repurchase Program of up to $2.0 billion in March 2024, which replaces the unused authorization under the 2022 Share Repurchase Program. It cited higher share repurchases as the main factor behind the increase in net cash used in financing activities.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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