Ulta Beauty continued its strong growth momentum in the first quarter, with a rise in comps, sales and earnings.
Net sales in the first quarter increased 22.5% to $1.3 billion from $1 billion in the first quarter of fiscal 2016. Net income increased 39.4% to $128.2 million compared to $92 million in the first quarter of fiscal 2016.
Comparable sales increased 14.3% compared to an increase of 15.2% in the first quarter of fiscal 2016. Retail comparable sales increased 10.9%, including salon comparable sales growth of 9.9%. Salon sales increased 16.7% to $68.7 million from $58.9 million in the first quarter of fiscal 2016, while e-commerce sales grew 70.9% to $104.3 million from $61 million in the first quarter of fiscal 2016.
“Strong execution of our growth strategies delivered above plan sales and earnings growth. Our results reflect continued newness and innovation in merchandising, successful marketing programs, steady progress in our salon business and exceptional growth in e-commerce,” said Mary Dillon, CEO, Ulta Beauty.
During the first quarter, the company opened 18 stores and closed two stores. It ended the first quarter with 990 stores.
