Ulta Beauty sales jump 60%

BOLINGBROOK - Ulta Beauty Inc. announced financial results for its fiscal year second quarter ended July 31. Net sales increased 60.2% to $2.0 billion compared to $1.2 billion in the second quarter of 2020, due to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions, the company said.

Gross profit increased to $798 million compared to $329 million in the second quarter of fiscal 2020. As a percentage of net sales, gross profit increased to 40.6% compared to 26.8% in the second quarter of fiscal 2020, primarily due to leverage of fixed costs, improvement in merchandise margins, favorable channel mix shifts, and leverage of salon expenses, Ulta said.

"The Ulta Beauty team delivered strong results for the second quarter. This performance reflects the recovery of the beauty category, investments and choices we've made over the last year to adapt to the market disruption and strengthen our leadership position, and the ongoing efforts of our associates to deliver great experiences for our guests," said Dave Kimbell, chief executive officer.

Real estate activity in the second quarter of fiscal 2021 included seven new stores located in Tennessee; Washington, Arkansas, Texas, New York, California and Alabama. In addition, the company relocated one store, remodeled five stores and closed one store. The second quarter ended with 1,296 stores and square footage of 13.6 million, representing a 2.7% increase in square footage compared to the second quarter last year, the company said.