Ulta Beauty(ULTA) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for the third quarter of fiscal 2024 were $2.53 billion, a 1.7$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$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$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$807,848, or 10.3% of net sales, down from $896,636, which was 11.7$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$11.1 billion and $11.2 billion, with diluted earnings per share projected to be between$23.20 and $23.75[13]