Ulta Beauty Announces Record Third Quarter Fiscal 2021 Results

BOLINGBROOK, Ill.–(BUSINESS WIRE)–Ulta Beauty, Inc. (NASDAQ: ULTA) right now introduced monetary outcomes for the thirteen-week interval (“third quarter”) and thirty-nine-week interval (“first 9 months”) ended October 30, 2021 in comparison with the identical intervals ended October 31, 2020.

 

13 Weeks Ended

 

 

October 30,

 

October 31,

 

November 2,

(Dollars in thousands and thousands)

 

2021

 

2020

 

2019

Net gross sales

 

$

1,995.8

 

 

$

1,552.0

 

 

$

1,682.5

 

Comparable gross sales

 

 

25.8

%

 

 

(8.9

)%

 

 

3.2

%

Gross revenue (as a share of web gross sales)

 

 

39.6

%

 

 

35.1

%

 

 

37.1

%

Selling, basic and administrative bills

 

$

503.4

 

 

$

416.4

 

 

$

449.2

 

Operating earnings (as a share of web gross sales)

 

 

14.2

%

 

 

6.5

%

 

 

10.0

%

Diluted earnings per share

 

$

3.94

 

 

$

1.32

 

 

$

2.25

 

New retailer openings, web

 

 

6

 

 

 

(2

)

 

 

28

 

“The Ulta Beauty group delivered excellent outcomes once more this quarter. For the third quarter, we delivered report gross sales and earnings, elevated our market share, and expanded our Ultamate Rewards loyalty program to just about 36 million members,” mentioned Dave Kimbell, chief govt officer. “This sturdy third quarter efficiency displays the energy and resiliency of the Beauty class, the ability of the Ulta Beauty differentiated mannequin, and the influence of our successful tradition and group. I wish to categorical my honest appreciation to all of our Ulta Beauty associates for his or her unimaginable efforts to serve our visitors and ship these glorious outcomes.”

For the Third Quarter of Fiscal 2021

Net gross sales elevated 28.6% to $2.0 billion in comparison with $1.6 billion within the third quarter of fiscal 2020 because of the favorable influence from stronger client confidence and fewer COVID-19 restrictions in comparison with the third quarter of fiscal 2020.

Comparable gross sales (gross sales for shops open at the least 14 months, together with shops briefly closed as a result of COVID-19, and e-commerce gross sales) elevated 25.8% in comparison with a lower of 8.9% within the third quarter of fiscal 2020, pushed by a 16.8% improve in transactions and a 7.7% improve in common ticket. Compared to the third quarter of fiscal 2019, comparable gross sales elevated 14.3%.

Gross revenue elevated to $789.5 million in comparison with $545.5 million within the third quarter of fiscal 2020. As a share of web gross sales, gross revenue elevated to 39.6% in comparison with 35.1% within the third quarter of fiscal 2020, primarily as a result of leverage of mounted prices, favorable channel combine shifts, leverage of salon bills, and enchancment in merchandise margins.

Selling, basic and administrative (SG&A) bills elevated to $503.4 million in comparison with $416.4 million within the third quarter of fiscal 2020. As a share of web gross sales, SG&A bills decreased to 25.2% in comparison with 26.8% within the third quarter of fiscal 2020, primarily as a result of leverage of company overhead, retailer bills and retailer payroll and advantages as a result of increased gross sales, partially offset by increased advertising bills.

There have been no impairment, restructuring and different prices within the third quarter of 2021 in comparison with $23.6 million within the third quarter of 2020.

Pre-opening bills decreased to $1.8 million in comparison with $4.2 million within the third quarter of fiscal 2020.

Operating earnings elevated to $284.2 million, or 14.2% of web gross sales, in comparison with $101.3 million, or 6.5% of web gross sales, within the third quarter of fiscal 2020. Adjusted working earnings for the third quarter of fiscal 2020 was $124.9 million, or 8.0% of web gross sales.

The firm’s tax fee decreased to 24.1% in comparison with 25.1% within the third quarter of fiscal 2020. The decrease efficient tax fee is primarily as a result of favorable provision to tax return changes, pushed by federal employment tax credit, in comparison with third quarter of fiscal 2020.

Net earnings elevated to $215.3 million in comparison with $74.8 million within the third quarter of fiscal 2020. Adjusted web earnings for the third quarter of fiscal 2020 was $92.5 million.

Diluted earnings per share elevated to $3.94 together with a $0.01 profit as a result of earnings tax accounting for share-based compensation, in comparison with $1.32 within the third quarter of fiscal 2020. Adjusted diluted earnings per share for the third quarter of fiscal 2020 was $1.64.

For the First Nine Months of Fiscal 2021

Net gross sales elevated 49.3% to $5.9 billion in comparison with $4.0 billion within the first 9 months of fiscal 2020, primarily because of the favorable influence from enhancing client confidence, authorities stimulus funds, and the easing of COVID-19 restrictions, as in comparison with the primary 9 months of fiscal 2020.

Comparable gross sales elevated 47.1% in comparison with a lower of 23.8% within the first 9 months of fiscal 2020, pushed by a 40.7% improve in transactions and a 4.6% improve in common ticket. Compared to the primary 9 months of fiscal 2019, comparable gross sales elevated 11.5%.

Gross revenue elevated to $2.3 billion in comparison with $1.2 billion within the first 9 months of fiscal 2020. As a share of web gross sales, gross revenue elevated to 39.7% in comparison with 29.8% within the first 9 months of fiscal 2020, primarily as a result of leverage of mounted prices, enchancment in merchandise margins, leverage of salon bills, and favorable channel combine shifts.

SG&A bills elevated to $1.4 billion in comparison with $1.1 billion within the first 9 months of fiscal 2020. As a share of web gross sales, SG&A bills decreased to 23.9% in comparison with 27.1% within the first 9 months of fiscal 2020, as a result of leverage of company overhead and retailer bills as a result of increased gross sales, partially offset by retailer payroll and advantages primarily as a result of much less worker retention credit obtained underneath the CARES Act, and better advertising bills.

There have been no impairment, restructuring and different prices acknowledged within the first 9 months of fiscal 2021, in comparison with $83.9 million within the first 9 months of fiscal 2020.

Pre-opening bills decreased to $7.8 million in comparison with $12.8 million within the first 9 months of fiscal 2020.

Operating earnings elevated to $921.9 million, or 15.6% of web gross sales, in comparison with $12.5 million, or 0.3% of web gross sales, within the first 9 months of fiscal 2020. Adjusted working earnings for the primary 9 months of fiscal 2020 was $97.9 million, or 2.5% of web gross sales.

The firm’s tax fee decreased to 24.4% in comparison with 40.3% within the first 9 months of fiscal 2020. The decrease efficient tax fee is primarily as a result of a profit from the earnings tax accounting for share-based compensation and favorable provision to tax return changes, pushed by federal employment tax credit, in comparison with fiscal 2020.

Net earnings elevated to $696.5 million in comparison with $4.3 million within the first 9 months of fiscal 2020. Adjusted web earnings for the primary 9 months of fiscal 2020 was $68.8 million.

Diluted earnings per share elevated to $12.60 together with a $0.08 profit as a result of earnings tax accounting for share-based compensation, in comparison with $0.08 within the first 9 months of fiscal 2020. Adjusted diluted earnings per share for the primary 9 months of fiscal 2020 was $1.22.

Balance Sheet

Cash and money equivalents on the finish of the third quarter of fiscal 2021 have been $605.1 million.

Merchandise inventories, web on the finish of the third quarter of fiscal 2021 totaled $1.92 billion in comparison with $1.44 billion on the finish of the third quarter of fiscal 2020. The $477.2 million improve in stock was primarily because of the addition of 40 web new shops opened since October 31, 2020, and the acceleration of stock receipts to help anticipated demand and mitigate anticipated international provide chain disruptions.

Share Repurchase Program

During the third quarter of fiscal 2021, the Company repurchased 340,668 shares of its frequent inventory at a price of $126.4 million. During the primary 9 months of fiscal 2021, the Company repurchased 2,330,244 shares of its frequent inventory at a price of $762.2 million. As of October 30, 2021, $759.8 million remained obtainable underneath the $1.6 billion share repurchase program introduced in March 2020.

Store Update

Real property exercise within the third quarter of fiscal 2021 included seven new shops situated in Arden, NC; Atlanta, GA; Batavia, NY; Greensboro, NC; Hickory, NC; Ithaca, NY; and Johnstown, PA. In addition, the Company relocated two shops, transformed three shops, and closed one retailer. In the primary 9 months of fiscal 2021, the Company opened 42 new shops, relocated 4 shops, transformed eight shops, and closed 4 shops.

At the top of the third quarter of fiscal 2021, the corporate operated 1,302 shops totaling 13.7 million sq. ft.

Fiscal 2021 Outlook

Based on the outcomes for the primary 9 months of fiscal 2021 and revised expectations for client demand, the Company has elevated its outlook for fiscal 2021.

The Company’s up to date outlook for fiscal 2021 is as follows:

 

 

Prior FY21 Outlook

 

Updated FY21 Outlook

Net gross sales

 

$8.1 billion to $8.3 billion

 

$8.5 billion to $8.6 billion

Comparable gross sales

 

30% to 32%

 

36% to 37%

New shops, web

 

44

 

no change

Remodel and relocation initiatives

 

18

 

17

Operating margin

 

roughly 13%

 

14.3% to 14.5%

Diluted earnings per share

 

$14.50 to $14.70

 

$16.70 to $17.10

Share repurchases

 

roughly $850 million

 

no change

Effective tax fee

 

24.8%

 

24.4%

Capital expenditures

 

$225 million to $250 million

 

$200 million to $225 million

Depreciation and amortization expense

 

$270 million to $280 million

 

no change

The Company’s outlook for fiscal 2021 assumes a constant federal tax fee and no materials will increase within the federal minimal wage.

Non-GAAP Financial Information

In this press launch, the Company supplies data relating to adjusted working earnings, adjusted web earnings, and adjusted diluted earnings per share, which aren’t acknowledged phrases underneath U.S. usually accepted accounting rules (GAAP) and don’t purport to be options to working earnings, web earnings, and diluted earnings per share as measures of working efficiency. A reconciliation of adjusted working earnings, adjusted web earnings, and adjusted diluted earnings per share is supplied on this launch. The Company believes the presentation of those non-GAAP monetary measures supplies further data on comparisons between intervals by excluding sure objects that have an effect on general comparability and supplies traders with enhanced visibility into its outcomes with respect to the influence of sure prices. Non-GAAP monetary measures must be thought-about along with, and never instead for, the Company’s reported outcomes ready in accordance with GAAP.

Conference Call Information

A convention name to debate third quarter of fiscal 2021 outcomes is scheduled for right now, December 2, 2021, at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts focused on taking part within the name are invited to dial (877) 705-6003. The convention name may even be webcast reside at https://ulta.com/investor. A replay of the webcast will stay obtainable for 90 days. A replay of the convention name will likely be obtainable till 11:59 p.m. ET on December 16, 2021 and could be accessed by dialing (844) 512-2921 and getting into convention ID quantity 13725135.

About Ulta Beauty

At Ulta Beauty (NASDAQ: ULTA), the chances are lovely. Ulta Beauty is the biggest U.S. magnificence retailer and the premier magnificence vacation spot for cosmetics, perfume, skincare merchandise, hair care merchandise and salon providers. In 1990, the Company reinvented the wonder retail expertise by providing a brand new approach to buy magnificence – bringing collectively all issues magnificence, multi functional place. Today, Ulta Beauty operates 1,302 retail shops throughout 50 states and likewise distributes its merchandise by means of its web site, which features a assortment of suggestions, tutorials, and social content material. For extra data, go to www.ulta.com.

Ulta Beauty was just lately added to the Bloomberg Gender Equality Index, which tracks the monetary efficiency of public corporations dedicated to supporting gender equality by means of coverage growth, illustration and transparency. More details about Ulta Beauty’s company duty efforts could be discovered at www.ulta.com/investor/ESG.

Forward-Looking Statements

This press launch incorporates forward-looking statements inside the which means of Section 21E of the Securities Exchange Act of 1934, as amended, and the protected harbor provisions of the Private Securities Litigation Reform Act of 1995, which replicate the corporate’s present views with respect to, amongst different issues, future occasions and monetary efficiency. These statements could be recognized by means of forward-looking phrases reminiscent of “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “methods” or different comparable phrases. Any forward-looking statements contained on this press launch are based mostly upon the corporate’s historic efficiency and on present plans, estimates and expectations. The inclusion of this forward-looking data shouldn’t be thought to be a illustration by the corporate or some other person who the long run plans, estimates, targets, methods or expectations contemplated by the corporate will likely be achieved. Such forward-looking statements are topic to varied dangers and uncertainties, which embrace, with out limitation:

The unfavourable impacts the COVID-19 pandemic has had, and can proceed to have, on the corporate’s enterprise, monetary situation, profitability, money flows and provide chain, in addition to client spending (together with future unsure impacts);

epidemics, pandemics like COVID-19 or pure disasters which have and will proceed to negatively influence the corporate’s gross sales;

adjustments within the general stage of client spending and volatility within the financial system, together with because of the COVID-19 pandemic and/or authorities support packages;

a decline in working outcomes that has and should proceed to result in asset impairment and retailer closures prices;

the corporate’s skill to maintain its progress plans and efficiently implement its long-range strategic and monetary plan;

the corporate’s skill to gauge magnificence tendencies and react to altering client preferences in a well timed method;

the chance that the corporate could also be unable to compete successfully in its extremely aggressive markets;

the corporate’s skill to execute its operational excellence priorities, together with steady enchancment, Project SOAR (its alternative enterprise useful resource planning platform), and provide chain optimization;

the chance that cybersecurity breaches and different disruptions might compromise the corporate’s data or end result within the unauthorized disclosure of confidential data;

the potential of materials disruptions to the corporate’s data techniques;

the chance that the capability of the corporate’s distribution and order achievement infrastructure and the efficiency of its distribution facilities and quick achievement facilities might not be ample to help its latest progress and anticipated future progress plans;

adjustments within the wholesale price of the corporate’s merchandise;

the chance that new retailer openings and present places could also be impacted by developer or co-tenant points;

the corporate’s skill to draw and retain key govt personnel;

the corporate’s skill to efficiently execute its frequent inventory repurchase program or implement future frequent inventory repurchase packages; and

different danger elements detailed within the firm’s public filings with the Securities and Exchange Commission (the SEC), together with danger elements contained in its Annual Report on Form 10‑Ok for the fiscal yr ended January 30, 2021, as such could also be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q.

The firm’s filings with the SEC can be found at www.sec.gov. Except to the extent required by the federal securities legal guidelines, the Company doesn’t undertake to publicly replace or revise its forward-looking statements, whether or not because of new data, future occasions or in any other case.

Exhibit 1

 

Ulta Beauty, Inc.

Consolidated Statements of Income

(In hundreds, besides per share information)

 

 

 

 

 

 

 

 

 

 

 

 

 

13 Weeks Ended

 

 

October 30,

 

October 31,

 

 

2021

 

2020

 

 

(Unaudited)

 

(Unaudited)

Net gross sales

 

$

1,995,775

 

100.0

%

 

$

1,552,033

 

100.0

%

Cost of gross sales

 

 

1,206,301

 

60.4

%

 

 

1,006,514

 

64.9

%

Gross revenue

 

 

789,474

 

39.6

%

 

 

545,519

 

35.1

%

 

 

 

 

 

 

 

 

 

 

 

Selling, basic and administrative bills

 

 

503,403

 

25.2

%

 

 

416,378

 

26.8

%

Impairment, restructuring and different prices

 

 

 

0.0

%

 

 

23,624

 

1.5

%

Pre-opening bills

 

 

1,832

 

0.1

%

 

 

4,240

 

0.3

%

Operating earnings

 

 

284,239

 

14.2

%

 

 

101,277

 

6.5

%

Interest expense, web

 

 

413

 

0.0

%

 

 

1,383

 

0.1

%

Income earlier than earnings taxes

 

 

283,826

 

14.2

%

 

 

99,894

 

6.4

%

Income tax expense

 

 

68,537

 

3.4

%

 

 

25,096

 

1.6

%

Net earnings

 

$

215,289

 

10.8

%

 

$

74,798

 

4.8

%

 

 

 

 

 

 

 

 

 

 

 

Net earnings per frequent share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

3.97

 

 

 

$

1.33

 

 

Diluted

 

$

3.94

 

 

 

$

1.32

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted common frequent shares excellent:

 

 

 

 

 

 

 

 

 

 

Basic

 

 

54,291

 

 

 

 

56,327

 

 

Diluted

 

 

54,660

 

 

 

 

56,546

 

 

Exhibit 2

 

Ulta Beauty, Inc.

Consolidated Statements of Income

(In hundreds, besides per share information)

 

 

 

 

 

 

 

 

 

 

 

 

 

39 Weeks Ended

 

 

October 30,

 

October 31,

 

 

2021

 

2020

 

 

(Unaudited)

 

(Unaudited)

Net gross sales

 

$

5,901,501

 

100.0

%

 

$

3,953,252

 

100.0

%

Cost of gross sales

 

 

3,560,276

 

60.3

%

 

 

2,775,121

 

70.2

%

Gross revenue

 

 

2,341,225

 

39.7

%

 

 

1,178,131

 

29.8

%

 

 

 

 

 

 

 

 

 

 

 

Selling, basic and administrative bills

 

 

1,411,577

 

23.9

%

 

 

1,068,877

 

27.1

%

Impairment, restructuring and different prices

 

 

 

0.0

%

 

 

83,924

 

2.1

%

Pre-opening bills

 

 

7,778

 

0.1

%

 

 

12,782

 

0.3

%

Operating earnings

 

 

921,870

 

15.6

%

 

 

12,548

 

0.3

%

Interest expense, web

 

 

1,196

 

0.0

%

 

 

5,272

 

0.1

%

Income earlier than earnings taxes

 

 

920,674

 

15.6

%

 

 

7,276

 

0.2

%

Income tax expense

 

 

224,203

 

3.8

%

 

 

2,935

 

0.1

%

Net earnings

 

$

696,471

 

11.8

%

 

$

4,341

 

0.1

%

 

 

 

 

 

 

 

 

 

 

 

Net earnings per frequent share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

12.68

 

 

 

$

0.08

 

 

Diluted

 

$

12.60

 

 

 

$

0.08

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted common frequent shares excellent:

 

 

 

 

 

 

 

 

 

 

Basic

 

 

54,921

 

 

 

 

56,355

 

 

Diluted

 

 

55,280

 

 

 

 

56,524

 

 

Exhibit 3

 

Ulta Beauty, Inc.

Condensed Consolidated Balance Sheets

(In hundreds)

 

 

 

 

 

 

 

 

 

 

 

 

October 30,

 

January 30,

 

October 31,

 

 

2021

 

2021

 

2020

 

 

(Unaudited)

 

 

 

 

(Unaudited)

Assets

 

 

 

 

 

 

 

 

 

Current belongings:

 

 

 

 

 

 

 

 

 

Cash and money equivalents

 

$

605,053

 

$

1,046,051

 

$

560,902

Receivables, web

 

 

169,212

 

 

193,109

 

 

136,271

Merchandise inventories, web

 

 

1,916,343

 

 

1,168,215

 

 

1,439,098

Prepaid bills and different present belongings

 

 

105,584

 

 

107,402

 

 

99,810

Prepaid earnings taxes

 

 

37,501

 

 

 

 

8,928

Total present belongings

 

 

2,833,693

 

 

2,514,777

 

 

2,245,009

 

 

 

 

 

 

 

 

 

 

Property and tools, web

 

 

908,665

 

 

995,795

 

 

1,042,262

Operating lease belongings

 

 

1,464,533

 

 

1,504,614

 

 

1,510,030

Goodwill

 

 

10,870

 

 

10,870

 

 

10,870

Other intangible belongings, web

 

 

1,770

 

 

2,465

 

 

2,696

Deferred compensation plan belongings

 

 

36,403

 

 

33,223

 

 

30,141

Other long-term belongings

 

 

31,833

 

 

28,225

 

 

29,986

Total belongings

 

$

5,287,767

 

$

5,089,969

 

$

4,870,994

 

 

 

 

 

 

 

 

 

 

Liabilities and stockholders’ fairness

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

747,451

 

$

477,052

 

$

478,501

Accrued liabilities

 

 

329,672

 

 

296,334

 

 

268,310

Deferred income

 

 

272,628

 

 

274,383

 

 

224,862

Current working lease liabilities

 

 

274,365

 

 

253,415

 

 

252,171

Accrued earnings taxes

 

 

 

 

42,529

 

 

6,499

Total present liabilities

 

 

1,624,116

 

 

1,343,713

 

 

1,230,343

 

 

 

 

 

 

 

 

 

 

Non-current working lease liabilities

 

 

1,565,921

 

 

1,643,386

 

 

1,661,750

Deferred earnings taxes

 

 

67,267

 

 

65,359

 

 

89,112

Other long-term liabilities

 

 

43,663

 

 

37,962

 

 

35,352

Total liabilities

 

 

3,300,967

 

 

3,090,420

 

 

3,016,557

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total stockholders’ fairness

 

 

1,986,800

 

 

1,999,549

 

 

1,854,437

Total liabilities and stockholders’ fairness

 

$

5,287,767

 

$

5,089,969

 

$

4,870,994

Exhibit 4

 

Ulta Beauty, Inc.

Condensed Consolidated Statements of Cash Flows

(In hundreds)

 

 

 

 

 

 

 

 

 

39 Weeks Ended

 

 

October 30,

 

October 31,

 

 

2021

 

2020

 

 

(Unaudited)

 

 

(Unaudited)

Operating actions

 

 

 

 

 

 

Net earnings

 

$

696,471

 

 

$

4,341

 

Adjustments to reconcile web earnings to web money supplied by working actions:

 

 

 

 

 

 

Depreciation and amortization

 

 

204,734

 

 

 

226,386

 

Non-cash lease expense

 

 

206,017

 

 

 

196,354

 

Long-lived asset impairment cost

 

 

 

 

 

69,932

 

Deferred earnings taxes

 

 

1,908

 

 

 

(255

)

Stock-based compensation expense

 

 

38,217

 

 

 

22,979

 

Loss on disposal of property and tools

 

 

3,357

 

 

 

5,219

 

Change in working belongings and liabilities:

 

 

 

 

 

 

Receivables

 

 

23,897

 

 

 

3,066

 

Merchandise inventories

 

 

(748,128

)

 

 

(145,397

)

Prepaid bills and different present belongings

 

 

1,818

 

 

 

3,007

 

Income taxes

 

 

(80,027

)

 

 

13,958

 

Accounts payable

 

 

266,104

 

 

 

62,337

 

Accrued liabilities

 

 

24,482

 

 

 

24,582

 

Deferred income

 

 

(1,755

)

 

 

(12,673

)

Operating lease liabilities

 

 

(222,451

)

 

 

(212,665

)

Other belongings and liabilities

 

 

213

 

 

 

(2,126

)

Net money supplied by working actions

 

 

414,857

 

 

 

259,045

 

 

 

 

 

 

 

 

Investing actions

 

 

 

 

 

 

Short-term investments, web

 

 

 

 

 

110,000

 

Capital expenditures

 

 

(108,418

)

 

 

(116,745

)

Acquisitions, web of money acquired

 

 

 

 

 

(1,220

)

Purchases of fairness investments

 

 

 

 

 

(5,665

)

Net money utilized in investing actions

 

 

(108,418

)

 

 

(13,630

)

 

 

 

 

 

 

 

Financing actions

 

 

 

 

 

 

Proceeds from long-term debt

 

 

 

 

 

800,000

 

Payments on long-term debt

 

 

 

 

 

(800,000

)

Repurchase of frequent shares

 

 

(762,167

)

 

 

(72,981

)

Stock choices exercised

 

 

30,297

 

 

 

1,346

 

Purchase of treasury shares

 

 

(15,511

)

 

 

(3,256

)

Debt issuance prices

 

 

 

 

 

(1,861

)

Net money utilized in financing actions

 

 

(747,381

)

 

 

(76,752

)

 

 

 

 

 

 

 

Effect of trade fee adjustments on money and money equivalents

 

 

(56

)

 

 

(86

)

Net improve (lower) in money and money equivalents

 

 

(440,998

)

 

 

168,577

 

Cash and money equivalents at starting of interval

 

 

1,046,051

 

 

 

392,325

 

Cash and money equivalents at finish of interval

 

$

605,053

 

 

$

560,902

 

Exhibit 5

 

Ulta Beauty, Inc.

Store Update

 

 

 

 

 

 

 

 

 

 

 

Total shops open

 

Number of shops

 

Number of shops

 

Total shops

 

 

at starting of the

 

opened in the course of the

 

closed in the course of the

 

open at

Fiscal 2021

 

quarter

 

quarter

 

quarter

 

finish of the quarter

1st Quarter

 

1,264

 

28

 

2

 

1,290

2nd Quarter

 

1,290

 

7

 

1

 

1,296

third Quarter

 

1,296

 

7

 

1

 

1,302

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross sq. ft for

 

 

 

 

 

 

Total gross sq.

 

shops opened or

 

Gross sq. ft for

 

Total gross sq.

 

 

ft at starting of

 

expanded in the course of the

 

shops closed

 

ft at finish of the

Fiscal 2021

 

the quarter

 

quarter

 

in the course of the quarter

 

quarter

1st Quarter

 

13,291,838

 

327,476

 

22,906

 

13,596,408

2nd Quarter

 

13,596,408

 

62,511

 

10,760

 

13,648,159

third Quarter

 

13,648,159

 

67,018

 

10,974

 

13,704,203

Exhibit 6

 

Ulta Beauty, Inc.

Sales by Category

 

The following tables set forth the approximate share of web gross sales by main class:

 

 

 

 

 

 

 

13 weeks ended

 

 

October 30,

 

October 31,

 

 

2021

 

2020

Cosmetics (1)

 

45

%

 

47

%

Haircare merchandise and styling instruments (1)

 

21

%

 

20

%

Skincare (1)

 

16

%

 

16

%

Fragrance and tub

 

12

%

 

10

%

Services

 

3

%

 

4

%

Accessories and different (1)

 

3

%

 

3

%

 

 

100

%

 

100

%

 

 

39 weeks ended

 

 

October 30,

 

October 31,

 

 

2021

 

2020

Cosmetics (1)

 

44

%

 

47

%

Haircare merchandise and styling instruments (1)

 

20

%

 

20

%

Skincare (1)

 

17

%

 

17

%

Fragrance and tub

 

12

%

 

9

%

Services

 

4

%

 

4

%

Accessories and different (1)

 

3

%

 

3

%

 

 

100

%

 

100

%

______________________________

(1) Certain gross sales departments have been reclassified between classes within the prior yr to evolve to present yr presentation.

Exhibit 7

 

Ulta Beauty, Inc.

Reconciliation of GAAP foundation to Adjusted working earnings, Adjusted web earnings and Adjusted diluted earnings per share

(In hundreds, besides per share information)

(Unaudited)

 

 

 

 

 

 

 

 

 

13 weeks ended

 

39 weeks ended

 

 

October 31,

 

October 31,

 

 

2020

 

2020

Operating earnings

 

$

101,277

 

 

$

12,548

 

Add: Store asset impairment

 

 

 

 

 

40,428

 

Add: Store closures

 

 

2,030

 

 

 

21,902

 

Add: Store closures – stock write-off

 

 

 

 

 

1,400

 

Add: Suspension of Canadian enlargement

 

 

15,886

 

 

 

15,886

 

Add: Severance prices

 

 

5,708

 

 

 

5,708

 

Adjusted working earnings

 

$

124,901

 

 

$

97,872

 

 

 

 

 

 

 

 

Net earnings

 

$

74,798

 

 

$

4,341

 

Add: Store asset impairment

 

 

 

 

 

40,428

 

Less: Income tax advantage of retailer asset impairment1

 

 

 

 

 

(9,905

)

Add: Store closures

 

 

2,030

 

 

 

21,902

 

Less: Income tax advantage of retailer closures1

 

 

(510

)

 

 

(5,366

)

Add: Store closures – stock write-off

 

 

 

 

 

1,400

 

Less: Income tax advantage of retailer closures – stock write-off1

 

 

 

 

 

(343

)

Add: Suspension of Canadian enlargement

 

 

15,886

 

 

 

15,886

 

Less: Income tax advantage of suspension of Canadian expansion1

 

 

(3,987

)

 

 

(3,892

)

Add: Severance prices

 

 

5,708

 

 

 

5,708

 

Less: Income tax advantage of severance costs1

 

 

(1,433

)

 

 

(1,398

)

Adjusted web earnings

 

$

92,492

 

 

$

68,761

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

1.32

 

 

$

0.08

 

Add: Store asset impairment

 

 

 

 

 

0.72

 

Less: Income tax advantage of retailer asset impairment1

 

 

 

 

 

(0.18

)

Add: Store closures

 

 

0.04

 

 

 

0.39

 

Less: Income tax advantage of retailer closures1

 

 

(0.01

)

 

 

(0.09

)

Add: Store closures – stock write-off

 

 

 

 

 

0.02

 

Less: Income tax advantage of retailer closures – stock write-off1

 

 

 

 

 

(0.01

)

Add: Suspension of Canadian enlargement

 

 

0.28

 

 

 

0.28

 

Less: Income tax advantage of suspension of Canadian expansion1

 

 

(0.07

)

 

 

(0.07

)

Add: Severance prices

 

 

0.10

 

 

 

0.10

 

Less: Income tax advantage of severance costs1

 

 

(0.02

)

 

 

(0.02

)

Adjusted diluted earnings per share

 

$

1.64

 

 

$

1.22

 

______________________________

1 The earnings tax profit for non-GAAP changes was calculated utilizing the Company’s blended tax fee earlier than discrete objects.

 

https://www.businesswire.com/information/house/20211202005817/en/Ulta-Beauty-Announces-Record-Third-Quarter-Fiscal-2021-Results

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