Ulta Beauty said net sales for the 13 weeks ended November 2, 2024 rose $41.2 million, or 1.7%, to $2.53 billion from the same period a year earlier, and comparable sales increased 0.6%. The company cited new store contribution as the driver of the net sales increase, and said other revenue fell $4.9 million.

10-QQuarterly reportFiled Dec 5, 2024Period of report Nov 2, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Ulta Beauty said net sales for the 13 weeks ended November 2, 2024 rose $41.2 million, or 1.7%, to $2.53 billion from the same period a year earlier, and comparable sales increased 0.6%. The company cited new store contribution as the driver of the net sales increase, and said other revenue fell $4.9 million.
The company said gross profit margin for the 13 weeks fell to 39.7% from 39.9% in the same period a year earlier. It said SG&A expenses rose $20.9 million to $682.3 million, or 27.0% of net sales. The company cited deleverage of store payroll and benefits and of corporate overhead from strategic investments as the drivers of the higher SG&A ratio.
The company said net income for the 13 weeks was $242.2 million, down from $249.5 million in the same period a year earlier, and net income for the 39 weeks was $807.8 million, down from $896.6 million. The company cited a $118.8 million increase in SG&A expenses as a driver of the decline in net income for the 39 weeks.
The company said it had cash and cash equivalents of $177.8 million as of November 2, 2024 and $199.7 million outstanding under its credit facility. It said its board approved a new share repurchase program of up to $3.0 billion in October 2024.

Key figures

Quarter ended November 2, 2024

Revenue: $2.5B
Operating income: $319M
Net income: $242M
EPS: $5.14
Gross profit: $1.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis 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.

13-Week Net Sales $2.53 billion

Ulta Beauty said net sales for the 13 weeks ended November 2, 2024 rose $41.2 million, or 1.7%, to $2.53 billion from the same period a year earlier, and comparable sales increased 0.6%. The company cited new store contribution as the driver of the net sales increase, and said other revenue fell $4.9 million.

Source · Based on the MD&A text of the filing

13-Week Gross Margin and SG&A

The company said gross profit margin for the 13 weeks fell to 39.7% from 39.9% in the same period a year earlier. It said SG&A expenses rose $20.9 million to $682.3 million, or 27.0% of net sales. The company cited deleverage of store payroll and benefits and of corporate overhead from strategic investments as the drivers of the higher SG&A ratio.

Source · Based on the MD&A text of the filing

13-Week and 39-Week Net Income

The company said net income for the 13 weeks was $242.2 million, down from $249.5 million in the same period a year earlier, and net income for the 39 weeks was $807.8 million, down from $896.6 million. The company cited a $118.8 million increase in SG&A expenses as a driver of the decline in net income for the 39 weeks.

Source · Based on the MD&A text of the filing

Cash, Credit Facility and Share Repurchases

The company said it had cash and cash equivalents of $177.8 million as of November 2, 2024 and $199.7 million outstanding under its credit facility. It said its board approved a new share repurchase program of up to $3.0 billion in October 2024.

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.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.