Ulta Beauty reported solid earnings for Q4 and fiscal 2024 but issued a modest outlook for the upcoming year.
Kecia Steelman, Ulta Beauty’s CEO president, said: “Fiscal 2025 will be a pivotal year as we make purposeful investments to fuel our future growth and move quickly to optimize our business.
“While it will take time to see the impact of these efforts, we are confident these investments will help reignite our momentum and unlock sustained growth and long-term value for our shareholders.”
In Q4, the company saw its net sales drop by 1.9% to $3.5 billion, while comparable sales went up by 1.5% and gross profit totaled $1.33 billion compared to $1.34 billion in the year prior.
For the full fiscal year 2024, net sales inched up by 0.8% to $11.3 billion, while comparable sales rose by 0.7%, and the company achieved a gross profit of $4.39 billion compared to $4.38 billion in the year prior.
Despite the solid earnings, Ulta Beauty predicted a weak outlook, expecting to achieve net sales of $11.5 billion to $11.6 billion and a comparable sales increase of between 0% to 1% in 2025.
