Sales for fourth quarter were up 19.5 percent to reach $473.7m compared to $396.4m in last year’s fourth quarter, according to the Illinois-headquartered company.
Profits benefited from the strong sales growth, with net income coming in at $30.1m, up 48.8 percent from the $20.2m recorded in the fourth quarter of 2009.
According to Ulta Salon CEO Chuck Rubin, results were better than expected: “We are very pleased to report better than expected fourth quarter sales and earnings representing an excellent finish to a very strong year for Ulta.”
Rubin went on to reference the success of Ulta’s growing online sales. “The fourth quarter included a 19.5 percent increase in total sales driven by a 10.4 percent increase in comparable store sales; strong performance from our new stores and continued growth in e commerce,” he said.
Full year sales up
The full year ending January 29, 2011 also recorded significant sales growth, with sales up 19 percent on 2009’s figures to reach $1.45bn. Net income for the year was up 80.5 percent to reach $71m.
New stores contributed significantly to 2010’s figures and the company plans to continue expanding in 2011.
“Our priorities are to accelerate our store expansion with plans to open approximately 61 new stores, representing square footage growth of 16 percent,” Rubin said.
In addition, he said the company planned to expand its guest offering with new products and brands, as well as focusing on ulta.com. This focus on the company’s online presence will both help drive internet sales as well as support its multi channel sales strategy.