By Sabela Ojea
Ulta Beauty Inc. on Thursday reported record sales in its latest quarter amid growing levels of demand for skincare products.
The beauty retailer said net income for the fourth quarter ended Jan. 28 rose to $340.8 million, or $6.68 a share, compared with $289.4 million, or $5.41 a share, for the same period a year earlier. Analysts polled by FactSet had forecast earnings per share of $5.72.
Sales jumped 18% to $3.23 billion, beating analysts’ expectations of $3.03 billion and in line with management expectations.
Comparable sales rose 16%, down from 21% a year earlier.
The company’s sales of cosmetics increased 40% in the quarter, down from 41% in the year-earlier period, while sales of skincare products jumped 16%, rising from 15% a year earlier.
Sales of haircare products and fragrances remained steady, growing by 29% and 18% in the quarter, the company said.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix