Market Visit Report: Ulta Beauty

While Ulta may not be a retailer with whom Canadians are very familiar, we have heard some great things about their approach to the beauty business and wanted to take a peek at one of their US stores.

Recently, the company announced its five-year strategic plan that includes opening 100 stores annually. With this sort of aggressive growth plan we may soon see Ulta stores come to Canada.

Ulta Beauty sells over 20,000 prestige and mass beauty products. It sells cosmetics, fragrance, haircare, skincare, bath & body products and salon styling tools. The company also offers a full-service salon with a wide range of salon haircare products in all stores.

The company operates 715 retail stores across 47 states and also sells products through the company’s website at www.ulta.com.

This fall, the company posted Q2 earnings and same store sales increased 9.6%, while e-commerce sales increased a significant 54.9%. Net income increased 35% to $60.8 million and sales increased 22.2% to $734.2 million. Mary Dillon, CEO cited “A significant improvement in traffic, successful new product and brand launches and rapid e-commerce growth…” as the main drivers behind Q2 results.

Please click here to view the report.

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