Ulta Beauty has ultimate Q3; on track to open 100 stores in '14

Boilignbrook, Ill. — Ulta Beauty reported fiscal results for the third quarter of fiscal 2014 that looked pretty darned good. Net income rose 30% to $59.1 million compared to $45.4 million in the third quarter of fiscal 2013, with lower expenses helping drive up profit.



The company said it will have opened 100 new stores in all of fiscal 2014 and remodeled another 12.



Net sales increased 20% to $745.7 million from $618.8 million in the third quarter of fiscal 2013, while same-store sales rose 9.5%. E-commerce same-store sales grew 46.7%. Ulta Beauty expects higher net and same-store sales for the fourth quarter and full fiscal year.



“We are pleased to announce excellent sales and earnings growth in the third quarter,” said Mary Dillon, CEO. “Strong same store sales were driven by a healthy balance of transaction and ticket growth. Continued strength in prestige and mass color cosmetics, the successful introduction of new products and brands, double digit comps in our salon business, a more effective and well executed marketing strategy, and rapid growth in e-commerce all contributed to our performance.”