The business has raised its full-year earnings outlook on the heels of a strong first quarter with earnings and revenue ahead of expectations amid growth across all its channels and major categories.
On the earnings call, Ulta revealed plans to open a “highly experiential” flagship in New York City’s Times Square. The store, which the retailer says underscores its commitment to immersive retail and accelerated brand building, is expected to open in late 2027.
“The store will be a vibrant, dynamic destination where technology, entertainment, convenience and our differentiated assortment come together to deliver immersive guest experiences and brand activations,” Ulta President and CEO Kecia Steelman told analysts on the call. “The store will showcase next level brand building and storytelling capabilities, unlock high-impact marketing through digital billboards and drive greater awareness and loyalty with guests from all over the United States and the world.”
Ulta reported net income of $340.4M for the quarter ended 2 May, compared to $305M in the year-ago period. Earnings per share increased 15.5 per cent to $7.74, far ahead of analysts’ expectations of $6.89 per share. Operating income rose 11.6 per cent to $448.2M.
