ULTA
Ulta Beauty Inc
Q2 2024 Report
Ulta Beauty Inc (ULTA) Q2 2024 Financial Results Analysis: Navigating Competitive Pressures...
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Executive Summary
Ulta Beauty Inc reported Q3 2024 results demonstrating resilience with a 1.7% increase in net sales to $2.5 billion and a 0.6% rise in comparable sales. Despite facing headwinds from a competitive landscape, particularly in the prestige beauty segment, management expressed optimism over improved market share trends, with flat market share reported for the quarter. The company's strategic focus on product innovation, expanding its loyalty program to 44.4 million active members, and enhancing marketing efforts were highlighted as contributing factors to their performance. Continued investments in technology and customer engagement were also outlined as part of their longer-term growth strategies.
Key Performance Indicators
Revenue
2.53B
QoQ: -0.86% | YoY:-28.82%
Gross Profit
1.01B
39.75% margin
QoQ: 2.81% | YoY:-24.98%
Operating Income
318.50M
QoQ: -3.25% | YoY:-38.77%
Net Income
242.18M
QoQ: -4.11% | YoY:-38.59%
EPS
5.16
QoQ: -3.01% | YoY:-36.53%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue:** $2.53 billion (up 1.7% YoY, down 0.86% QoQ)
- **Net Income:** $242.18 million (down 38.59% YoY, down 4.11% QoQ)
- **EPS:** $5.14 (up 1.4% YoY)
- **Gross Margin:** 39.7% (down 20 basis points YoY)
- **Operating Margin:** 12.6% (down 50 basis points YoY)