Overview

• Second-quarter net sales reached $2.79–$2.8 billion, up 9.3%, with diluted EPS of $5.78 and comparable sales up 6.7% on 3.7% more transactions and a 2.9% higher ticket, led by double-digit growth in fragrance.
• Full-year guidance now calls for net sales of $12.0–$12.1 billion, EPS of $23.85–$24.30, and comparable sales growth of 2.5%–3.5%.
• Gross profit rose 11.6% to $1.10 billion, supported by lower e-commerce shipping costs, reduced inventory losses, and tighter inventory management.
• The July acquisition of Space NK and 24 new U.S. stores contributed to the quarter, and Ulta now plans to open 63 stores in 2025.
• Ulta is winding down its Target shop-in-shops, which generated well below 1% of 2024 net sales, as interim CFO Chris Lialios and CEO Kecia Steelman flag caution around tariffs and consumer demand.