Ulta Beauty (ULTA) reports double-digit growth in Q4 sales and earnings

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AlphaStreet

Ulta Beauty, Inc. (NASDAQ: ULTA) has reported a sharp increase in sales and net income for the fourth quarter of 2023 when the beauty store chain’s comparable store sales increased modestly. The company also provided guidance for fiscal 2024.

At $3.55 billion, fourth-quarter net sales were up 10% from the prior-year period. Comparable store sales increased by 2.5% during the three months.

Net income moved up to $394.4 million or $8.08 per share in the January quarter from $340.75 million or $6.68 per share in the same period of 2022. The management expects full-year 2024 sales to be in the range of $11.7 billion to $11.7 billion.

“While we are mindful the near-term macro environment remains dynamic, we are optimistic about the resiliency of the beauty category, energized by the growth opportunities ahead of us, and confident in our ability to deliver for our guests and our shareholders,” said Dave Kimbell, chief executive officer of Ulta Beauty.

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