Charles Sternberg, Assistant Editor06.01.21
Ulta Beauty Inc. has shared financial results for the first quarter ended May 1, 2021.
Net sales increased 65.2% to $1.9 billion compared to $1.2 billion in the first quarter of fiscal 2020. This increase was primarily due to the favorable impact in the U.S. from improving consumer confidence, government stimulus payments and the easing of Covid-19 restrictions.
“The Ulta Beauty team delivered an outstanding start to the year, with sales and earnings exceeding fiscal 2020 and fiscal 2019 first quarter levels,” said Mary Dillon, chief executive officer. “I want to thank all our associates for their continued efforts to deliver great experiences and support our business in an environment that continues to be very dynamic.”
“We have emerged from 2020 with strong momentum in our sales trends, market share gains, and consumer sentiment,” said Dave Kimbell, president. “As increasing consumer confidence, the relaxation of restrictions, and a desire for newness drive increased engagement with the beauty category, our differentiated model, combined with our ongoing efforts to create meaningful guest connections, position us well to lead through the category recovery.”
The company also updated its outlook for fiscal 2021. It forecasts net sales of $7.7 billion to $7.8 billion for the full year.
Net sales increased 65.2% to $1.9 billion compared to $1.2 billion in the first quarter of fiscal 2020. This increase was primarily due to the favorable impact in the U.S. from improving consumer confidence, government stimulus payments and the easing of Covid-19 restrictions.
“The Ulta Beauty team delivered an outstanding start to the year, with sales and earnings exceeding fiscal 2020 and fiscal 2019 first quarter levels,” said Mary Dillon, chief executive officer. “I want to thank all our associates for their continued efforts to deliver great experiences and support our business in an environment that continues to be very dynamic.”
“We have emerged from 2020 with strong momentum in our sales trends, market share gains, and consumer sentiment,” said Dave Kimbell, president. “As increasing consumer confidence, the relaxation of restrictions, and a desire for newness drive increased engagement with the beauty category, our differentiated model, combined with our ongoing efforts to create meaningful guest connections, position us well to lead through the category recovery.”
The company also updated its outlook for fiscal 2021. It forecasts net sales of $7.7 billion to $7.8 billion for the full year.
