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Ulta Beauty Reports Record First Quarter 2022 Results

Net sales increased 21% year over year due to the favorable impact of fewer Covid-19 restrictions.

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By: Charlie Sternberg

Associate Editor

Ulta Beauty has reported record-breaking results for the first quarter ended April 30, 2022.
 
Net sales increased 21.0% to $2.3 billion compared to $1.9 billion in the first quarter of fiscal 2021 due to the favorable impact of fewer Covid-19 restrictions compared to the first quarter of fiscal 2021.
 
Furthermore, comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 18.0%, driven by a 10.0% increase in transactions and an 7.3% increase in average ticket.
 
“The Ulta Beauty team delivered exceptional first quarter results, with better-than-expected sales and earnings growth, supported by double-digit comparable sales growth across all major categories,” said Dave Kimbell, chief executive officer. “Solid execution of our strategies, paired with strong guest demand, fueled our financial performance and continued market share gains as we delighted our guests with exciting brand launches within our one-of-a-kind assortment and differentiated guest experiences.”

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Earlier this month, Ulta Beauty launched UB Media—a retail media network—to offer brands addressable advertising leveraging its Ultamate Rewards members.

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