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posted: 12/3/2021 2:24 PM

Ulta Beauty reports record sales and earnings

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BOLINGBROOK -- Ulta Beauty Inc. reported net sales increased 28.6% in its fiscal year third quarter, to $2.0 billion, compared to $1.6 billion in the third quarter last year.

The sales increase was attributed to the favorable impact from stronger consumer confidence and fewer COVID-19 restrictions compared to the third quarter of 2020.

Gross profit increased to $79 million compared to $55 million in the third quarter of fiscal 2020.

"For the third quarter, we delivered record sales and earnings, increased our market share, and expanded our Ultamate Rewards loyalty program to nearly 36 million members," said Dave Kimbell, chief executive officer. "This strong third quarter performance reflects the strength and resiliency of the Beauty category, the power of the Ulta Beauty differentiated model, and the impact of our winning culture and team."

Ulta opened seven new stores in the quarter, relocated two others, remodeled three stores and closed one store. In the first nine months of the year, the company has opened 42 new stores.