Ulta Beauty Surpasses Q4 Estimates, Unveils New Strategy

Ulta Beauty reported a strong financial performance in the fourth quarter of fiscal 2024, surpassing Wall Street expectations with earnings per share of $8.46, beating the anticipated $7.13, and net sales of $3.49 billion, slightly exceeding estimates despite a year-over-year decline. The retailer attributed its success to strategic focuses like enhancing omnichannel retail, exclusive product offerings, and a robust loyalty program. However, Ulta forecast lower-than-expected sales and profit for 2025, partly due to economic uncertainties and changing trade policies. New CEO Kecia Steelman acknowledged competitive challenges and unveiled her 'Ulta Beauty Unleashed' strategy, aiming to optimize digital capabilities, secure exclusive products, and streamline operations. Despite losing market share in 2024, Ulta's stock rose in after-hours trading following its earnings report. The results contrast with softer growth in the U.S. beauty market experienced by competitors like Coty, Elf Beauty, and L'Oreal.