LONDON, UK / ACCESSWIRE / June 28, 2018 / If you want access to our free earnings report on Ulta Beauty, Inc. (NASDAQ: ULTA), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ULTA. The Company reported its first quarter fiscal 2018 operating and financial results on May 31, 2018. The beauty products retailer outperformed top- and bottom-line expectations. Additionally, the Company provided its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ulta Beauty most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ULTA

Earnings Highlights and Summary

For the first quarter of the fiscal year 2018, Ulta Beauty's net sales increased 17.4% to $1.54 billion compared to $1.31 billion in Q1 2017. The Company's revenue numbers topped analysts' estimates of $1.53 billion.

During Q1 2018, Ulta Beauty's comparable sales rose 8.1% compared to an increase of 14.3% in Q1 2017. The growth in the reported quarter was driven by a transaction growth of 5.1% and a growth in average ticket of 3.0%. Ulta Beauty's retail comparable sales increased 4.7% in Q1 2018, including salon comparable sales growth of 3.2%.

For Q1 2018, Ulta Beauty's ecommerce sales soared 48.0% to $154.4 million from $104.3 million in Q1 2017, representing 340 basis points (bps) of the Company's total comparable sales increase of 8.1%. Ulta Beauty's salon sales increased 10.1% to $75.7 million in the reported quarter compared to $68.7 million in the prior year's same quarter.

Ulta Beauty's gross profit as a percentage of net sales increased 10 bps to 36.3% compared to 36.2% in Q1 2017, driven by the impact of new revenue recognition accounting and a leverage in fixed store costs. The Company's selling, general, and administrative expenses (SG&A) as a percentage of net sales increased 80 bps to 22.4% in the reported quarter compared to 21.6% in Q1 2017, due to the impact of new revenue recognition accounting and deleverage of investments in store labor to support growth initiatives.

For Q1 2018, Ulta Beauty's operating income advanced 11.4% to $209.8 million, or 13.6% of net sales, compared to $188.4 million, or 14.3% of net sales, in Q1 2017. The Company's tax rate dropped to 22.1% in the reported quarter versus 32.1% in the prior year's comparable quarter, primarily due to the tax reform.

Ulta Beauty's net income increased to $164.4 million, or $2.70 per diluted share, in Q1 2018 compared to $128.2 million, or $2.05 per diluted share, in Q1 2017. The Company?s results for the reported quarter included a benefit of $0.07 due to income tax accounting for share-based compensation, while the earlier quarter results included a $0.14 benefit due to income tax accounting for share-based compensation. Ulta Beauty's earnings beat Wall Street's estimates of $2.48 per share.

Balance Sheet

At the end of Q1 2018, Ulta Beauty's merchandise inventories totaled $1.14 billion compared to $1.05 billion at the end of Q1 2017. The Company's average inventory per store decreased 3.0% on a y-o-y basis.

Ulta Beauty ended Q1 2018 with cash and short-term investments of $469.1 million. During Q1 2018, the Company repurchased 618,551 shares of its stock at a cost of $133.1 million. As of May 05, 2018, Ulta Beauty had $625.0 million available under its share repurchase program announced in March 2018.

Store Expansion

During Q1 2018, Ulta Beauty opened 34 stores and closed 1 store. The Company ended Q1 2018 with 1,107 stores and a square footage of 11,645,795, representing an increase in square footage of 11.6% compared to Q1 2017.

Outlook

For the second quarter of the fiscal year 2018, Ulta Beauty is forecasting net sales to be in the range of $1.475 million to $1,488 billion compared to actual net sales of $1.29 billion in Q2 2017. The Company's comparable sales, including ecommerce sales, are expected to increase 6% to 7% for the upcoming quarter.

For Q2 2018, Ulta Beauty is expecting diluted earnings per share (EPS) to be in the band $2.35 to $2.40. This compares to EPS of $1.83 for Q2 2017.

For the full fiscal year 2018, Ulta Beauty is projecting net sales to grow in the low teens percentage range. The Company is expecting to achieve a comparable sales growth of approximately 6% to 8%, and grow ecommerce sales in the 40% range. Ulta Beauty is planning to open approximately 100 new stores and execute 15 remodel or relocation projects.

Ulta Beauty is forecasting to deliver GAAP EPS growth in the low 20% range compared to the previous guidance of approximately 20%, including the impact of share repurchases of approximately $500 million and assuming an effective tax rate of 24%.

Stock Performance Snapshot

June 27, 2018 - At Wednesday's closing bell, Ulta Beauty's stock fell 1.13%, ending the trading session at $236.05.

Volume traded for the day: 622.64 thousand shares.

Stock performance in the last three-month - up 15.08%; previous six-month period - up 4.13%; and year-to-date - up 5.54%

After yesterday's close, Ulta Beauty's market cap was at $14.29 billion.

Price to Earnings (P/E) ratio was at 23.03.

The stock is part of the Services sector, categorized under the Specialty Retail, Other industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors