Ulta Beauty announces sales increase

BOLINGBROOK - Ulta Beauty Inc. announced financial results for its 2022 fiscal year, ended Jan. 28, including a net sales increase of 18.3%.

Net sales rose to $10.2 billion during the fiscal year, compared to $8.6 billion the prior year. Ulta said the increase was primarily due to the continued resilience of the beauty category, retail price increases, the favorable impact of new brands and product innovations, and increased social occasions with fewer COVID-19 limitations compared to fiscal year 2021.

Gross profit increased 20% to $4 billion compared to $3.4 billion in the prior year. As a percentage of net sales, gross profit increased to 39.6%, up from 39% in 2021.

"Ulta Beauty's strong fourth quarter results punctuate an exceptional year with record sales, profitability, and member growth, reflecting robust demand and best-in-class execution," said Dave Kimbell, chief executive officer.

Ulta Beauty is the largest U.S. beauty retailer selling cosmetics, fragrances, skin care products, hair care products and salon services. The company operates 1,355 retail stores across 50 states and also distributes its products through its website.