Ulta Net Sales Up 23% in Q2

摘要

Specialty beauty retailer Ulta experienced "strong momentum" in the second quarter of fiscal 2011 with "better than expected" results, CEO Chuck Rubin says in a Sep. 8 earnings release. Net sales increased 22.6% to $394.6 million, compared with the prior-year period. Net income rose 83% to $23.9 million for the quarter, due partly to a charge taken in the year-ago period. Rubin attributed the strong performance to increased sales productivity, expanded merchandise margins and new product trends, along with traffic-generating events which drove consumers to the firm's 415 stores, 21 of which were new additions in 02.