As it faced fewer COVID-19 pandemic restrictions year over year, Ulta enjoyed double-digit comp gains and a big Wall Street analyst beat on earnings.
Ulta topped a MarketBeat-published analyst consensus earnings per share estimate of $4.46 as well as a $2.12 billion revenue estimate.
Comparable sales gained 18%, the company stated, driven by a 10% increase in transactions and a 7.3% increase in average ticket.
Net sales increased 21% to $2.35 billion versus the year-prior quarter, Ulta indicated, due to the favorable impact of fewer COVID-19 restrictions compared to the 2021 first quarter. Operating income was $437.7 million versus $305.3 million in the year-previous period.
“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, the company’s CEO, in announcing the financial results. “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.”