ULTA 8-K: Smart Summary

On March 12, 2026, Ulta Beauty, Inc. reported consolidated financial results for the fourth quarter and fiscal year ended January 31, 2026. Q4 net sales grew 11.8% to $3.9B and full-year net sales grew 9.7% to $12.4B, with comparable sales increasing 5.8% and 5.4% respectively. The company also provided fiscal 2026 guidance for net sales growth of 6% to 7% and diluted EPS of $28.05 to $28.55.

• Q4 net sales: $3.9B, +11.8% YoY; full-year net sales: $12.4B, +9.7% YoY
• Q4 comparable sales: +5.8% (vs. +1.5% prior year); full-year comparable sales: +5.4% (vs. +0.7% prior year)
• Q4 gross profit: $1.5B, +11.2% YoY; gross margin 38.1% vs. 38.2% prior year; full-year gross margin 39.1% vs. 38.8% prior year
• Q4 operating income: $476.9M, 12.2% of net sales (vs. 14.8% prior year); full-year operating income: $1.5B, 12.4% of net sales (vs. 13.9% prior year)
• Q4 net income: $356.7M, 9.1% of net sales (vs. $393.3M, 11.3% prior year); full-year net income: $1.2B, 9.3% of net sales (vs. $1.2B, 10.6% prior year)
• Q4 diluted EPS: $8.01 (vs. $8.46 prior year); full-year diluted EPS: $25.64, +1.2% YoY (vs. $25.34)
• Full-year cash flow from operations: $1.5B (vs. $1.3B prior year)

• Cosmetics: 35% of Q4 net sales (vs. 36% prior year); 38% of full-year net sales (vs. 39% prior year)
• Skincare and wellness: 24% of Q4 net sales (vs. 23% prior year); 24% of full-year net sales (vs. 23% prior year)
• Haircare: 19% of Q4 net sales (vs. 19% prior year); 19% of full-year net sales (vs. 19% prior year)
• Fragrance: 17% of Q4 net sales (vs. 17% prior year); 13% of full-year net sales (vs. 13% prior year)
• Services: 3% of Q4 net sales (vs. 3% prior year); 4% of full-year net sales (vs. 4% prior year)
• Other: 2% of Q4 net sales (vs. 2% prior year); 2% of full-year net sales (vs. 2% prior year)
• Net sales growth driven by increased comparable sales, acquisition of Space NK, and sales from new stores (60 net new U.S. stores and 3 net new international company-operated stores in fiscal 2025)

• Cash and cash equivalents at end of fiscal 2025: $424.2M (vs. $703.2M at end of fiscal 2024)
• Short-term investments at end of fiscal 2025: $70M
• Short-term debt at end of fiscal 2025: $62.3M
• During fiscal 2025, repurchased 2.0 million shares of common stock at a cost of $890.5M, excluding excise taxes
• As of January 31, 2026, $1.8B remained available under the $3B share repurchase program announced in October 2024
• Capital expenditures in fiscal 2025: $434.8M to support new stores, relocations, remodels, IT systems, and supply chain optimization
• Merchandise inventories, net increased 10.8% to $2.2B at end of fiscal 2025

• "The Ulta Beauty team closed the year with momentum, delivering strong fourth quarter and full-year sales and continued market share gains. Our better-than-planned financial performance reflects our continued focus on serving our guests and consistently delivering great experiences through better execution, compelling newness, more seamless and convenient experiences, and bold new merchandising and marketing strategies." — Kecia Steelman, President and Chief Executive Officer
• "I am proud of how our team is embracing and executing our Ulta Beauty Unleashed strategy. Looking ahead, we are well positioned for sustainable, profitable growth in 2026 and beyond and are excited to build on our successes to extend our position as the unmatched beauty and wellness destination for all guests across all ages and life stages." — Kecia Steelman, President and Chief Executive Officer

• Net sales growth: 6% to 7% for fiscal 2026
• Comparable sales growth: 2.5% to 3.5% for fiscal 2026
• Operating income growth: 6% to 9% for fiscal 2026
• Diluted EPS: $28.05 to $28.55 for fiscal 2026 (representing growth of 9.4% to 11.4%)
• Capital expenditures: $400M to $450M for fiscal 2026