Ulta Beauty Inc (NASDAQ:ULTA) stock was last seen up 4.5% to trade at $450.70, after the cosmetics retailer revealed COO Kecia Steelman will succeed CEO Dave Kimbell, who retired on Monday after 11 years with the company. Additionally, Ulta lifted its fourth-quarter operating margin outlook. ULTA carries a 7.5% year-over-year deficit, but added 23.3% over the past three months. Shares are trading at their highest level since April as they bounce off their 20-day moving average and break through pressure at ...

Leadership Transition - Ulta Beauty CEO Dave Kimbell is retiring after 11 years, effective immediately [1][4] - Kimbell will remain as an advisor through June 28 [1] - Chief Operating Officer Kecia Steelman will succeed Kimbell as CEO [1][4] Strategic Direction - Steelman played a key role in developing Ulta's refreshed strategic framework [2] - Ulta's strategic roadmap includes opening 200 net new stores by 2028 [2] - The company aims to increase loyalty program membership to 50 million members by 2028 [2] Financial Performance - Ulta raised its fourth-quarter outlook, expecting comparable sales to increase modestly [3] - Operating margin is projected to exceed the high end of the previously estimated range of 11.6% to 12.4% [3][4] - Fourth-quarter results will be reported on March 13 [3] Market Reaction - Ulta's shares rose approximately 2% in extended trading following the announcements [3]

People walk past an Ulta Beauty store in the Manhattan borough of New York City on March 8, 2022.Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by the retailer's Chief Operating Officer Kecia Steelman, the company announced Monday.Ulta said in a news release that the leadership changes take effect on Monday. Steelman will also replace Kimbell on the company's board of directors. In a news release, Ulta said Kimbell will serve as an advisor to the company through June 28.Along with announcing ...

Ulta Beauty (ULTA -0.91%) investors have some good reasons to feel disappointed right now. Their stock was left out of the 2024 rally, declining 13% through mid-December while the broader S&P 500 jumped 24%. Its slumping valuation even attracted attention from Warren Buffett's Berkshire Hathaway, yet the famed investor went on to sell almost all of that new position by the following quarter.It's possible Buffett and his investing partners soured on the economics of this spa and beauty products business, whi ...

As 2024 comes to a close with abrupt and choppy trading in the last week, investors should be focused on finding value names to round out our portfolios for 2025. After a sharp ~25% run-up in 2024 powered by large-cap growth stocks, inWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contrib ...

Ulta Beauty, Inc. (NASDAQ:ULTA) Raymond James 2024 TMT & Consumer Conference December 11, 2024 10:40 AM ET Company Participants Dave Kimbell - CEO Paula Oyibo - CFO Conference Call Participants Olivia Tong - Raymond James Olivia Tong Okay. Well, thank you, everybody, for joining us at Raymond James' Consumer & TMT Conference. I'm Olivia Tong. I had the coverage of Beauty and HPC, and we're so excited to have Ulta with us today. Thank you for joining us. Dave, Paula, really appreciate it. We have Dave Kimbel ...

Ulta Beauty, Inc. (NASDAQ:ULTA) Q3 2024 Earnings Call Transcript December 5, 2024 4:30 PM ET Company Participants Kiley Rawlins - VP of IR Dave Kimbell - CEO Paula Oyibo - CFO Conference Call Participants Simeon Siegel - BMO Capital Markets Kelly Crago - Citi Korinne Wolfmeyer - Piper Sandler Anthony Chukumba - Loop Capital Markets Christopher Horvers - JPMorgan Chase & Company Emily Ghosh - Goldman Sachs Oliver Chen - TD Cowen Krisztina Katai - Deutsche Bank Operator Good afternoon, and welcome to Ulta Bea ...

Core Viewpoint - Ulta Beauty reported quarterly earnings of $5.14 per share, exceeding the Zacks Consensus Estimate of $4.47 per share, and showing a slight increase from $5.07 per share a year ago, resulting in an earnings surprise of 14.99% [1] Financial Performance - The company achieved revenues of $2.53 billion for the quarter ended October 2024, surpassing the Zacks Consensus Estimate by 1.68%, and reflecting a year-over-year increase from $2.49 billion [2] - Over the last four quarters, Ulta has exceeded consensus EPS estimates three times and has also topped consensus revenue estimates three times [2] Stock Performance and Outlook - Ulta shares have declined approximately 18.4% since the beginning of the year, contrasting with the S&P 500's gain of 27.6% [4] - The current consensus EPS estimate for the upcoming quarter is $6.84 on revenues of $3.4 billion, while for the current fiscal year, the estimate is $23.07 on revenues of $11.16 billion [8] Industry Context - The Zacks Industry Rank indicates that the Retail - Miscellaneous sector is currently in the bottom 30% of over 250 Zacks industries, suggesting potential challenges for stock performance [9]

Beauty products on the shelves at Ulta on State Street in Chicago on Feb. 4, 2015.Ulta Beauty on Thursday beat Wall Street's fiscal third-quarter expectations, fending off fears of fiercer competition and slowing demand for makeup and skincare.The retailer hiked its full-year outlook slightly to reflect the better-than-expected results. For the fiscal year, it said it now expects net sales to range from $11.1 billion to $11.2 billion, compared with its previous guidance for $11 billion to $11.2 billion.It s ...

Financial Performance - Net sales for the third quarter of fiscal 2024 were $2.53 billion, a 1.7% increase from $2.49 billion in the same quarter last year[5] - Comparable sales increased by 0.6%, compared to a 4.5% increase in the prior year, driven by a 0.5% increase in transactions and a 0.1% increase in average ticket[5] - Gross profit was $1.0 billion, with a gross profit margin of 39.7%, down from 39.9% in the previous year[6] - Operating income was $318.5 million, or 12.6% of net sales, compared to 13.1% in the prior year[6] - Net income for the third quarter was $242.2 million, compared to $249.5 million in the same quarter last year[6] - Net sales for the 39 weeks ended November 2, 2024, reached $7,808,035, a 2.0% increase from $7,653,005 for the same period last year[23] - Gross profit margin decreased to 39.1% from 39.7% year-over-year, with gross profit amounting to $3,053,601 compared to $3,040,536[23] - Operating income for the 39 weeks was $1,048,651, representing a decline to 13.4% of net sales from 15.2% in the previous year[23] - Net income decreased to $807,848, or 10.3% of net sales, down from $896,636, which was 11.7% of net sales last year[23] - Basic net income per share was $17.00, down from $18.08 year-over-year, while diluted net income per share was $16.93 compared to $17.99[23] Expenses and Liabilities - Selling, general and administrative expenses rose to $682.3 million, representing 27.0% of net sales, up from 26.6%[6] - Total liabilities increased to $3,629,477 from $3,566,466, with current liabilities rising to $1,816,407 from $1,836,939[26] Store Operations - The company opened 28 new stores in the third quarter, bringing the total to 1,437 stores[11] - Total stores increased from 1,385 at the beginning of Fiscal 2024 to 1,437 by the end of the third quarter, with a net addition of 52 stores during the year[31] - Total gross square feet increased from 14,515,593 at the beginning of Fiscal 2024 to 15,020,825 by the end of the third quarter, reflecting an increase of 505,232 square feet[31] - In the third quarter, 258,320 gross square feet were added from new or expanded stores, while 20,083 square feet were closed[31] Inventory and Cash Flow - Merchandise inventories increased by 1.9% to $2.4 billion, primarily due to the addition of 63 net new stores since the end of the previous fiscal year[8] - Total current assets increased to $2,954,862 from $2,792,040, with merchandise inventories rising to $2,365,186 from $2,321,306[26] - Cash and cash equivalents at the end of the period were $177,782, a decrease from $121,811 at the end of the previous year[28] - Net cash provided by operating activities was $302,041, down from $358,011 in the prior year[28] - Capital expenditures for the period were $300,536, slightly lower than $311,030 in the previous year[28] Shareholder Actions - The company repurchased 731,458 shares at a cost of $267.0 million during the third quarter, with $2.9 billion remaining under the share repurchase program[10] Sales Composition - For the week ended October 28, 2023, cosmetics accounted for 42% of net sales, while skincare represented 22%[34] - Haircare sales contributed 21% to net sales for the week ended October 28, 2023, showing a slight decrease from the previous year[34] - Fragrance and services maintained their contributions at 9% and 4% respectively for the week ended October 28, 2023[34] - The company reclassified certain sales departments to align with current year presentation, impacting the categorization of the bath category[34] Outlook - For fiscal 2024, the updated outlook for net sales is between $11.1 billion and $11.2 billion, with diluted earnings per share projected to be between $23.20 and $23.75[13]