Comparable Sales for Ulta Beauty Drop 8.9 Percent in Third Quarter

by Alex Tostado

Bolingbrook, Ill. — Ulta Beauty Inc. has reported that its comparable sales decreased 8.9 percent compared with an increase of 3.2 percent in the third quarter of fiscal 2019. Net sales decreased 7.8 percent to $1.6 billion, compared with $1.7 billion in third-quarter 2019. The Bolingbrook-based beauty retailer says the drop is due to the impact of COVID-19. This quarter, Ulta opened 17 new stores, compared with 31 new stores in third-quarter 2019. Net income was $74.8 million compared with $129.7 million for the same period last year.

“We know guests are changing how they shop beauty, but importantly, their engagement with the category remains strong,” says Mary Dillon, CEO.

Early holiday sales trends in November were encouraging, according to Dillon, but the retailer anticipates that comparable-store sales will decline in the range of 12 to 14 percent in the fourth quarter.

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