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Ulta goes international with plans for Canada

May 31, 2019 / Cara Salpini

Ulta Beauty posted yet another strong quarter, as net sales increased 12.9% to $1.74 billion, up from $1.54 billion the year prior and barely missing estimates for $1.75 billion. Comparable sales increased 7%, driven by transaction and average ticket growth, according to a company press release. That's down from an 8.1% increase in the year-ago quarter, and fell just short of expectations for a 7.1% increase, according to MarketWatch. Net income rose 16.9% to $192.2 million, compared to $164.4 million in the year-ago quarter, beating expectations. Operating income also increased in the double digits, rising 13.2% to $237.5 million from $209.8 million a year ago. Gross profit as a percentage of net sales was 37%, up by 70 basis points, though selling, general and administrative expenses as a percentage of net sales also increased 70 basis points, to 23.1%, due to investments in growth initiatives and store labor, among other things.