ULTA DOWN 27 EARNINGS SLOWER
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Q2 Fiscal 2024 Results1:
• Net Sales: $2.6 billion, a slight increase from $2.5 billion in the same quarter last year.
• Comparable Sales: Decreased by 1.2%, driven by a 1.8% decrease in transactions and a 0.6% increase in average ticket.
• Gross Profit: $978.2 million, down from $993.6 million. Gross profit margin decreased to 38.3% from 39.3%.
• Operating Income: $329.6 million, or 12.9% of net sales, compared to 15.5% in the previous year.
• Net Income: $252.6 million, or $5.30 per diluted share, down from $6.02 per share last year.
Q1 Fiscal 2024 Results2:
• Net Sales: $2.7 billion, up 3.5% from $2.6 billion in Q1 2023.
• Comparable Sales: Increased by 1.6%, driven by a 1.3% increase in transactions and a 0.3% increase in average ticket.
• Operating Income: $400.9 million, or 14.7% of net sales, compared to $442.1 million, or 16.8% of net sales in Q1 2023.
• Earnings Per Share (EPS): $6.47, down from $6.88 in the previous year.
Challenges and Outlook:
• Ulta Beauty has faced challenges such as a decline in comparable store sales and increased SG&A expenses1.
• Despite these challenges, the company remains focused on driving stronger sales and traffic, and maintaining financial discipline1.
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