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Ulta Posts 2Q, Half Year Gains

Net sales, net income up in both fiscal reports

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By: Jamie Matusow

Editor-in-Chief

Ulta Salon, Cosmetics & Fragrance, Inc. reported financial results for the second quarter and first six months ended Aug. 2, 2008.

For the second quarter, net sales increased 24.3% to $249.1 million, while gross profit jumped 23.9% to $73.1 million. Operating income climbed 46.2% to $7.2 million, while net income leaped 67.2% to $3.7 million.

Lyn Kirby, Ulta’s president and chief executive officer, stated: “Our compelling shopping experience driven by our ability to satisfy all the beauty needs of women across all categories, including full-service salon, led to another solid performance for Ulta. Despite the difficult economy, we increased sales … we attribute our ongoing success in a difficult economy to our proven marketing strategy, solid operational execution and the beauty category, which is more resilient than many retail categories. We remain confident that we are positioned to achieve our annual goals.”

For the first six months of 2008, net sales increased 23.8% to $488.4 million, while gross profit climbed 24.1% to $147.1 million. Operating income jumped 3% to $15.3 million, while net income rose 7% to $8 million.

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