Ulta Beauty says sales rise in second quarter

BOLINGBROOK - Ulta Beauty Inc. reported financial results for its fiscal year second quarter, including net sales of $2.5 billion, up 10.1% compared to $2.3 billion in the second quarter of fiscal 2022.

The sales increase is primarily due to increased comparable sales, strong new store performance and growth in other revenue, Ulta said. Comparable sales - sales for stores open at least 14 months and e-commerce sales - increased 8% compared to an increase of 14.4% in the second quarter of fiscal 2022.

Net income increased to $300.1 million compared to $295.7 million from the same period a year ago. Diluted earnings per share increased 5.6% to $6.02, compared to $5.70 last fiscal year, and includes a 1 cent benefit due to income tax accounting for stock-based compensation.

"The beauty category has continued to deliver healthy growth, as consumers maintain their post-pandemic routines and expand their definition of beauty," said Dave Kimbell, chief executive officer.