Ulta Beauty Reports Fourth Quarter and Full-Year Fiscal 2024 Results
Bolingbrook, IL – March 13, 2025 – Ulta Beauty, Inc. (NASDAQ: ULTA) announced its fourth-quarter and full-year fiscal 2024 financial results, reflecting strong profitability despite a slight decline in net sales due to an extra week in fiscal 2023.

Key Financial Highlights
Q4 FY 2024 vs. Q4 FY 2023
Net Sales: $3.49B (-1.9% YoY)
Comparable Sales: +1.5% YoY
Gross Profit Margin: 38.2% (vs. 37.7%)
Operating Income: $516.3M (14.8% of sales)
Net Income: $393.3M (vs. $394.4M)
Earnings Per Share (EPS): $8.46 (vs. $8.08)
New Stores Opened: 8 (net)
Full-Year FY 2024 vs. FY 2023
Net Sales: $11.3B (+0.8% YoY)
Comparable Sales: +0.7% (vs. 5.7% last year)
Gross Profit Margin: 38.8% (vs. 39.1%)
Operating Income: $1.6B (13.9% of sales)
Net Income: $1.2B (vs. $1.3B)
EPS: $25.34 (vs. $26.03)
New Stores Opened: 60 (net)
CEO Commentary
Kecia Steelman, President & CEO, stated:
"Despite a challenging retail environment, we outperformed expectations in Q4, delivering strong revenue and EPS. We are focused on long-term growth and strategic investments to optimize our business in fiscal 2025."

Fiscal 2025 Outlook
Net Sales: $11.5B – $11.6B
Comparable Sales Growth: 0% – 1%
Operating Margin: 11.7% – 11.8%
EPS: $22.50 – $22.90
New Stores Opened: ~60
Share Repurchases: ~$900M
Strategic Focus for 2025
Investments in business optimization to enhance profitability and long-term value.
Expansion of beauty services and e-commerce to drive customer engagement.
Continued store growth with planned remodels and relocations.
Ulta Beauty remains financially strong with $703M in cash and no outstanding credit facility borrowings, positioning the company for continued success in the evolving beauty industry.