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Ulta Beauty net sales increased 18.6%

Staff Writer | December 1, 2017
Ulta Beauty announced financial results for the third quarter ended October 28, 2017.
Ulta Beauty
Ulta Beauty   $1,342.2 million
Net sales increased 18.6% to $1,342.2 million from $1,131.2 million in the third quarter of fiscal 2016.

The Company estimates that Hurricanes Harvey and Irma resulted in approximately $14 million in lost sales.

Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 10.3% compared to an increase of 16.7% in the third quarter of fiscal 2016.

The 10.3% comparable sales increase was driven by 6.0% transaction growth and 4.3% growth in average ticket. The Company estimates that Hurricanes Harvey and Irma resulted in approximately 100 basis points of negative impact to comparable stores sales in the third quarter of fiscal 2017.

Retail comparable sales increased 6.6%, including salon comparable sales growth of 3.8%.

Salon sales increased 10.8% to $66.9 million from $60.4 million in the third quarter of fiscal 2016.

E-commerce sales grew 62.9% to $119.8 million from $73.6 million in the third quarter of fiscal 2016, representing 370 basis points of the total company comparable sales increase of 10.3%.

Gross profit as a percentage of net sales decreased 110 basis points to 36.7% from 37.8% in the third quarter of fiscal 2016, due to deleverage in merchandise margins.

Selling, general and administrative (SG&A) expenses as a percentage of net sales decreased 90 basis points to 23.9%, compared to 24.8% in the third quarter of fiscal 2016, due to leverage in corporate overhead and variable store expenses attributed to cost efficiencies and higher sales volume, partially offset by investments in store labor to support our growth initiatives and charges related to the hurricanes.


 

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