Rounding out a strong year, Ulta Beauty saw 4th Q sales increase 18.2% to $3.2B.
For the Full year, net sales increased 18.3% to $10.8 Billion, a new record! Operating income jumped 26.3% to $1.6B.
For the first time in Ulta's 33 year history annual revenue surpassed $10 Billion.
Gross Margins increased to 39.6% in 2022.
Projected growth for Ulta Beauty is 1500 to 1700 stores with an additional 800 Ulta pop-up stores in Target (Currently at 254 stores) locations.
The connection between beauty and wellness is a trend noted by industry experts and is expected to continue in the foreseeable future. Ulta showed positive sales in all categories with Skin Care being the fastest growing.
Comparable Sales outlook is projected to be more conservative for the coming year with net sales between $10.95B to $11.05B and Comps up 4% to 5%.
SOURCE: Retail Dive, 3/10/23
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