Form 8-K - Current report

0001403568false00014035682024-08-292024-08-29

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 29, 2024

ULTA BEAUTY, INC.

(Exact name of registrant as specified in its charter)

​	​	​
Delaware	001-33764	38-4022268
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
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​	1000 Remington Blvd., Suite 120, Bolingbrook, Illinois 60440	​
​	(Address of Principal Executive Offices and zip code)	​

[phone]

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐	Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. §230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. §240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 C.F.R. §240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. §240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, par value $0.01 per share	​	ULTA	​	The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company      ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      ☐

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Item 2.02 Results of Operations and Financial Condition.

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On August 29, 2024, Ulta Beauty, Inc. issued a press release regarding its consolidated financial results for the second quarter ended August 3, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report.

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Item 9.01 Financial Statements and Exhibits.

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(d) Exhibits.

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The exhibits listed in the Exhibit Index below are being furnished herewith.

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Exhibit    No.		Description
99.1	​	Press release issued by Ulta Beauty, Inc. on August 29, 2024 announcing consolidated financial results for the second quarter ended August 3, 2024.
104	​	Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document)

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2

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SIGNATURES

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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	ULTA BEAUTY, INC.
​	​	​
Date: August 29, 2024	By:	/s/ Jodi J. Caro
​	​	Jodi J. Caro
​	​	General Counsel, Chief Risk & Compliance Officer

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3

Exhibit 99.1

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ULTA BEAUTY ANNOUNCES SECOND QUARTER FISCAL 2024 RESULTS

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Net Sales of $2.6 Billion Compared to $2.5 Billion in the Year-Ago Quarter

Comparable Sales Decreased 1.2%

Net Income of $252.6 Million or $5.30 Per Diluted Share

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Bolingbrook, IL – August 29, 2024 – Ulta Beauty, Inc. (NASDAQ: ULTA) today announced financial results for the thirteen-week period (“second quarter”) and twenty-six-week period (“first six months”) ended August 3, 2024 compared to the same periods ended July 29, 2023.

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13 Weeks Ended

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26 Weeks Ended

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August 3,

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July 29,

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August 3,

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July 29,

(Dollars in millions, except per share data)

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2024

​

2023

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2024

​

2023

Net sales

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$

2,552.1

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$

2,529.8

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$

5,277.9

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$

5,164.1

Comparable sales (1)

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(1.2%)

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8.0%

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0.2%

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8.7%

Gross profit (as a percentage of net sales)

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38.3%

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39.3%

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38.8%

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39.7%

Selling, general and administrative expenses

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$

644.8

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$

600.7

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$

1,310.7

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$

1,212.8

Operating income (as a percentage of net sales)

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12.9%

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15.5%

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13.8%

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16.1%

Diluted earnings per share

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$

5.30

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$

6.02

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$

11.78

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$

12.90

New store openings, net

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16

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3

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26

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7

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(1)	Comparable sales are calculated based on the comparable 13 and 26 calendar weeks in the current and prior year.

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“While we are encouraged by many positive indicators across our business, our second quarter performance did not meet our expectations, driven primarily by a decline in comparable store sales. We are clear about the factors that adversely impacted our store performance, and we have actions underway to address the trends,” said Dave Kimbell, chief executive officer. “We are focused on driving stronger sales and traffic and continuing to exercise financial discipline. In light of our first half trends and a more cautious outlook, we have updated our full year expectations. I remain confident in the power of our differentiated model, the strength of our financial foundation, and our ability to deliver value for our shareholders over the long term.”

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Second Quarter of Fiscal 2024 Compared to Second Quarter of Fiscal 2023

●

Net sales increased 0.9% to $2.6 billion compared to $2.5 billion, primarily due to new store contribution and growth in other revenue.

●

Comparable sales (sales for stores open at least 14 months and e-commerce sales) decreased 1.2% compared to an increase of 8.0%, driven by a 1.8% decrease in transactions and a 0.6% increase in average ticket.

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Gross profit was $978.2 million compared to $993.6 million. As a percentage of net sales, gross profit decreased to 38.3% compared to 39.3%, primarily due to lower merchandise

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margins and deleverage of store fixed costs, partially offset by growth in other revenue and lower inventory shrink.

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Selling, general and administrative (SG&A) expenses were $644.8 million compared to $600.7 million. As a percentage of net sales, SG&A expenses increased to 25.3% compared to 23.7%, primarily due to deleverage of store payroll and benefits, corporate overhead primarily due to strategic investments, store expenses, and marketing expenses, partially offset by lower incentive compensation.

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Operating income was $329.2 million, or 12.9% of net sales, compared to $391.6 million, or 15.5% of net sales.

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The tax rate was 24.3% compared to 24.2%.

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Net income was $252.6 million compared to $300.1 million.

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Diluted earnings per share was $5.30 compared to $6.02.

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First Six Months of Fiscal 2024 Compared to First Six Months of Fiscal 2023

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Net sales increased 2.2% to $5.3 billion compared to $5.2 billion, primarily due to new store contribution and growth in other revenue.

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Comparable sales increased 0.2% compared to an increase of 8.7%, driven by a 0.4% increase in average ticket and a 0.2% decrease in transactions.

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Gross profit was flat at $2.0 billion. As a percentage of net sales, gross profit decreased to 38.8% compared to 39.7%, primarily due to lower merchandise margin and deleverage of store fixed costs, partially offset by growth in other revenue.

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SG&A expenses were $1.3 billion compared to $1.2 billion. As a percentage of net sales, SG&A expenses increased to 24.8% compared to 23.5%, primarily due to deleverage of corporate overhead primarily due to strategic investments, store payroll and benefits, store expenses, and marketing expenses, partially offset by lower incentive compensation.

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Operating income was $730.1 million, or 13.8% of net sales, compared to $833.7 million, or 16.1% of net sales.

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The tax rate was 23.7% compared to 23.5%.

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Net income was $565.7 million compared to $647.2 million.

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Diluted earnings per share was $11.78, including a $0.10 benefit due to income tax accounting for stock-based compensation, compared to $12.90, including a $0.14 benefit due to income tax accounting for stock-based compensation.

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Balance Sheet
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Cash and cash equivalents at the end of the second quarter of fiscal 2024 totaled $414.0 million.

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Merchandise inventories, net at the end of the second quarter of fiscal 2024 increased 10.1% to $2.0 billion compared to $1.8 billion at the end of the second quarter of fiscal 2023. The increase was primarily due to inventory to support new brand launches, the opening of the new market fulfillment center in Greer, SC, and the addition of 49 net new stores since July 29, 2023.

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Share Repurchase Program

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During the second quarter of fiscal 2024, the Company repurchased 549,852 shares of its common stock at a cost of $212.3 million. During the first six months of fiscal 2024, the Company repurchased 1.1 million shares of its common stock at a cost of $497.5 million. As of August 3, 2024, $1.6 billion remained available under the $2.0 billion share repurchase program announced in March 2024.

Store Update

During the second quarter of fiscal 2024, the Company opened 17 new stores, relocated one store, remodeled nine stores, and closed one store. During the first six months of fiscal 2024, the Company opened 29 new stores, relocated two stores, remodeled nine stores, and closed three stores. At the end of the second quarter of fiscal 2024, the Company operated 1,411 stores totaling 14.8 million square feet.

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Fiscal 2024 Outlook

For fiscal 2024, the Company plans to:
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​	​	​	​	​	​
​	​	​	Prior FY24 Outlook	​	Updated FY24 Outlook
Net sales	​	​	$11.5 billion to $11.6 billion	​	$11.0 billion to $11.2 billion
Comparable sales	​	​	2% to 3%	​	(2%) to 0%
New stores, net	​	​	60-65	​	no change
Remodel and relocation projects	​	​	40-45	​	no change
Operating margin	​	​	13.7% to 14.0%	​	12.7% to 13.0%
Diluted earnings per share	​	​	$25.20 to $26.00	​	$22.60 to $23.50
Share repurchases	​	​	approximately $1 billion	​	no change
Interest income	​	​	approximately $13 million	​	no change
Effective tax rate	​	​	approximately 24%	​	no change
Capital expenditures	​	​	$415 million to $490 million	​	$400 million to $450 million
Depreciation and amortization expense	​	​	$270 million to $275 million	​	$265 million to $270 million

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Conference Call Information

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A conference call to discuss second quarter of fiscal 2024 results is scheduled for today, August 29, 2024 at 4:30 p.m. ET / 3:30 p.m. CT. Investors and analysts who are interested in participating in the call are invited to dial [phone]. Participants may also listen to a real-time audio webcast of the conference call by visiting the Investor Relations section of the Company’s website located at https://www.ulta.com/investor. A replay will be made available online approximately two hours following the live call for a period of 30 days.

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About Ulta Beauty

At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful. Ulta Beauty is the largest specialty U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together All Things Beauty, All in One Place^®. Today, Ulta Beauty operates 1,411 retail stores across 50 states and also distributes its products through its website, which includes a collection of tips, tutorials, and social content. For more information, visit www.ulta.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, future events and financial performance. These statements can be identified by the use of forward-looking words such as “outlook,” “believes,” “expects,” “plans,” “estimates,” “targets,” “strategies” or other comparable words. Any forward-looking statements contained in this press release are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the future plans, estimates, targets, strategies or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation:

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macroeconomic conditions, including inflation, elevated interest rates and recessionary concerns, as well as continuing labor cost pressures, and transportation and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, and cash flows (including future uncertain impacts);

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changes in the overall level of consumer spending and volatility in the economy, including as a result of macroeconomic conditions and geopolitical events;

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our ability to sustain our growth plans and successfully implement our long-range strategic and financial plan;

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the ability to execute our operational excellence priorities, including continuous improvement, Project SOAR (the replacement of our enterprise resource planning platform), and supply chain optimization;

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our ability to gauge beauty trends and react to changing consumer preferences in a timely manner;

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the possibility that we may be unable to compete effectively in our highly competitive markets;

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the possibility of significant interruptions in the operations of our distribution centers, fast fulfillment centers, and market fulfillment centers;

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the possibility that cybersecurity or information security breaches and other disruptions could compromise our information or result in the unauthorized disclosure of confidential information;

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the possibility of material disruptions to our information systems, including our Ulta.com website and mobile applications;

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the failure to maintain satisfactory compliance with applicable privacy and data protection laws and regulations;

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changes in the good relationships we have with our brand partners, our ability to continue to obtain sufficient merchandise from our brand partners, and/or our ability to continue to offer permanent or temporary exclusive products of our brand partners;

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our ability to effectively manage our inventory and protect against inventory shrink;

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changes in the wholesale cost of our products and/or interruptions at our brand partners’ or third-party vendors’ operations;

●

epidemics, pandemics or natural disasters, which could negatively impact sales;

●

the possibility that new store openings and existing locations may be impacted by developer or co-tenant issues;

●

our ability to attract and retain key executive personnel;

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the impact of climate change on our business operations and/or supply chain;

●

our ability to successfully execute our common stock repurchase program or implement future common stock repurchase programs;

●

a decline in operating results which could lead to asset impairment and store closure charges; and

●

other risk factors detailed in the Company’s public filings with the Securities and Exchange Commission (the SEC), including risk factors contained in its Annual Report on Form 10-K for the fiscal year ended February 3, 2024, as such may be amended or supplemented in its subsequently filed Quarterly Reports on Form 10-Q.

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The Company’s filings with the SEC are available at www.sec.gov. Except to the extent required by the federal securities laws, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

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Investor Contact:

Kiley Rawlins, CFA

Vice President, Investor Relations

[e-mail]

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Media Contact:

Crystal Carroll

Senior Director, Public Relations

[e-mail]

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Exhibit 1

Ulta Beauty, Inc.

Consolidated Statements of Income

(In thousands, except per share data)

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​	​	​	​	​	​	​	​	​	​	​
​	​	13 Weeks Ended
​	​	August 3,				​	July 29,
​	​	2024				​	2023
​	​	(Unaudited)				​	(Unaudited)
Net sales	​	$	2,552,087	​	100.0%	​	$	2,529,809	​	100.0%
Cost of sales		​	1,573,910		61.7%	​	​	1,536,197		60.7%
Gross profit	​	​	978,177	​	38.3%	​	​	993,612	​	39.3%
​	​	​	​	​	​	​	​	​	​	​
Selling, general and administrative expenses	​	​	644,821	​	25.3%	​	​	600,692	​	23.7%
Pre-opening expenses	​	​	4,155	​	0.2%	​	​	1,278	​	0.1%
Operating income	​	​	329,201	​	12.9%	​	​	391,642	​	15.5%
Interest income, net	​	​	(4,526)	​	(0.2%)	​	​	(4,449)	​	(0.2%)
Income before income taxes	​	​	333,727	​	13.1%	​	​	396,091	​	15.7%
Income tax expense	​	​	81,171	​	3.2%	​	​	95,989	​	3.8%
Net income	​	$	252,556	​	9.9%	​	$	300,102	​	11.9%
​	​	​	​	​	​	​	​	​	​	​
Net income per common share:	​	​	​	​	​	​	​	​	​	​
Basic	​	$	5.32	​	​	​	$	6.05	​	​
Diluted	​	$	5.30	​	​	​	$	6.02	​	​
​	​	​	​	​	​	​	​	​	​	​
Weighted average common shares outstanding:	​	​	​	​	​	​	​	​	​	​
Basic	​	​	47,505	​	​	​	​	49,617	​	​
Diluted	​	​	47,667	​	​	​	​	49,849	​	​

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Exhibit 2

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Ulta Beauty, Inc.

Consolidated Statements of Income

(In thousands, except per share data)

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​	​	​	​	​	​	​	​	​	​	​
​	​	26 Weeks Ended
​	​	August 3,				​	July 29,
​	​	2024				​	2023
​	​	(Unaudited)				​	(Unaudited)
Net sales	​	$	5,277,935	​	100.0%	​	$	5,164,072	​	100.0%
Cost of sales	​	​	3,229,978	​	61.2%	​	​	3,115,603	​	60.3%
Gross profit		​	2,047,957	​	38.8%	​	​	2,048,469	​	39.7%
​	​	​	​		​	​	​	​	​	​
Selling, general and administrative expenses	​	​	1,310,734	​	24.8%	​	​	1,212,821		23.5%
Pre-opening expenses	​	​	7,074	​	0.1%	​	​	1,936	​	0.0%
Operating income	​	​	730,149	​	13.8%	​	​	833,712	​	16.1%
Interest income, net	​	​	(11,426)	​	(0.2%)	​	​	(11,797)	​	(0.2%)
Income before income taxes	​	​	741,575	​	14.1%	​	​	845,509	​	16.4%
Income tax expense	​	​	175,906	​	3.3%	​	​	198,356	​	3.8%
Net income	​	$	565,669	​	10.7%	​	$	647,153	​	12.5%
​	​	​	​	​	​	​	​	​	​	​
Net income per common share:	​	​	​	​	​	​	​	​	​	​
Basic	​	$	11.83	​	​	​	$	12.97	​	​
Diluted	​	$	11.78	​	​	​	$	12.90	​	​
​	​	​	​	​	​	​	​	​	​	​
Weighted average common shares outstanding:	​	​	​	​	​	​	​	​	​	​
Basic	​	​	47,815	​	​	​	​	49,885	​	​
Diluted	​	​	48,022	​	​	​	​	50,157	​	​

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Exhibit 3

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Ulta Beauty, Inc.

Condensed Consolidated Balance Sheets

(In thousands)

​	​	​	​	​	​	​	​	​	​
​	​	August 3,		​	February 3,		​	July 29,
​	​	2024		​	2024		​	2023
​	​	(Unaudited)		​	​	​	​	(Unaudited)
Assets		​	​		​	​		​	​
Current assets:	​	​	​	​	​	​	​	​	​
Cash and cash equivalents	​	$	413,962	​	$	766,594	​	$	388,627
Receivables, net	​	​	200,863	​	​	207,939	​	​	174,444
Merchandise inventories, net	​	​	1,998,286	​	​	1,742,136	​	​	1,815,539
Prepaid expenses and other current assets	​	​	132,023	​	​	115,598	​	​	110,524
Prepaid income taxes	​	​	53,607	​	​	4,251	​	​	30,114
Total current assets	​	​	2,798,741	​	​	2,836,518	​	​	2,519,248
​	​	​	​	​	​	​	​	​	​
Property and equipment, net	​	​	1,225,850	​	​	1,182,335	​	​	1,073,144
Operating lease assets	​	​	1,599,735	​	​	1,574,530	​	​	1,549,146
Goodwill	​	​	10,870	​	​	10,870	​	​	10,870
Other intangible assets, net	​	​	357	​	​	510	​	​	718
Deferred compensation plan assets	​	​	46,280	​	​	43,516	​	​	40,087
Other long-term assets	​	​	55,575	​	​	58,732	​	​	55,547
Total assets	​	$	5,737,408	​	$	5,707,011	​	$	5,248,760
​	​	​	​	​	​	​	​	​	​
Liabilities and stockholders’ equity	​	​	​	​	​	​	​	​	​
Current liabilities:	​	​	​	​	​	​	​	​	​
Accounts payable	​	$	566,904	​	$	544,001	​	$	521,315
Accrued liabilities	​	​	348,042	​	​	382,468	​	​	328,247
Deferred revenue	​	​	394,987	​	​	436,591	​	​	354,253
Current operating lease liabilities	​	​	281,301	​	​	283,821	​	​	287,359
Accrued income taxes	​	​	—	​	​	11,310	​	​	—
Total current liabilities	​	​	1,591,234	​	​	1,658,191	​	​	1,491,174
​	​	​	​	​	​	​	​	​	​
Non-current operating lease liabilities	​	​	1,647,698	​	​	1,627,271	​	​	1,593,040
Deferred income taxes	​	​	88,461	​	​	85,921	​	​	56,012
Other long-term liabilities	​	​	61,855	​	​	56,300	​	​	56,657
Total liabilities	​	​	3,389,248	​	​	3,427,683	​	​	3,196,883
​	​	​	​	​	​	​	​	​	​
Commitments and contingencies	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
Total stockholders’ equity	​	​	2,348,160	​	​	2,279,328	​	​	2,051,877
Total liabilities and stockholders’ equity	​	$	5,737,408	​	$	5,707,011	​	$	5,248,760

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Exhibit 4

Ulta Beauty, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

​	​	​	​	​	​	​
​	​	26 Weeks Ended
​	​	August 3,		​	July 29,
​	​	2024		​	2023
​	​	(Unaudited)		​	(Unaudited)
Operating activities	​	​	​	​	​	​
Net income	​	$	565,669	​	$	647,153
Adjustments to reconcile net income to net cash provided by operating activities:	​	​	​	​	​	​
Depreciation and amortization	​	​	130,053	​	​	119,862
Non-cash lease expense	​	​	163,481	​	​	152,867
Deferred income taxes	​	​	2,540	​	​	666
Stock-based compensation expense	​	​	19,272	​	​	21,539
Loss on disposal of property and equipment	​	​	5,204	​	​	3,878
Change in operating assets and liabilities:	​	​	​	​	​	​
Receivables	​	​	7,076	​	​	24,978
Merchandise inventories	​	​	(256,150)	​	​	(212,088)
Prepaid expenses and other current assets	​	​	(16,425)	​	​	19,722
Income taxes	​	​	(60,666)	​	​	8,194
Accounts payable	​	​	29,715	​	​	(38,752)
Accrued liabilities	​	​	(33,634)	​	​	(102,763)
Deferred revenue	​	​	(41,604)	​	​	(40,424)
Operating lease liabilities	​	​	(170,779)	​	​	(163,527)
Other assets and liabilities	​	​	15,127	​	​	(12,497)
Net cash provided by operating activities	​	​	358,879	​	​	428,808
​	​	​	​	​	​	​
Investing activities	​	​	​	​	​	​
Capital expenditures	​	​	(186,301)	​	​	(204,748)
Other investments	​	​	(5,091)	​	​	(1,687)
Net cash used in investing activities	​	​	(191,392)	​	​	(206,435)
​	​	​	​	​	​	​
Financing activities	​	​	​	​	​	​
Repurchase of common shares	​	​	(501,768)	​	​	(559,011)
Stock options exercised	​	​	9,196	​	​	9,147
Purchase of treasury shares	​	​	(23,459)	​	​	(21,759)
Debt issuance costs	​	​	(4,088)	​	​	—
Net cash used in financing activities	​	​	(520,119)	​	​	(571,623)
​	​	​	​	​	​	​
Net decrease in cash and cash equivalents	​	​	(352,632)	​	​	(349,250)
Cash and cash equivalents at beginning of period	​	​	766,594	​	​	737,877
Cash and cash equivalents at end of period	​	$	413,962	​	$	388,627

​

​

​

​

​

​

​

​

​

​

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​

​

Exhibit 5

Ulta Beauty, Inc.

Store Update

​

​	​	​	​	​	​	​	​	​
​		Total stores open	​	Number of stores	​	Number of stores	​	Total stores
​	​	at beginning of the	​	opened during the	​	closed during the	​	open at
Fiscal 2024	​	quarter		quarter		quarter		end of the quarter
1st Quarter	​	1,385	​	12	​	2	​	1,395
2nd Quarter	​	1,395	​	17	​	1	​	1,411

​

​

​	​	​	​	​	​	​	​	​
​	​	​	​	Gross square feet for	​	​	​	​
​		Total gross square	​	stores opened or	​	Gross square feet for	​	Total gross square
​	​	feet at beginning of	​	expanded during the	​	stores closed	​	feet at end of the
Fiscal 2024	​	the quarter		quarter		during the quarter		quarter
1st Quarter	​	14,515,593	​	114,786	​	15,615	​	14,614,764
2nd Quarter	​	14,614,764	​	178,624	​	10,800	​	14,782,588

​

​

​

​

​

​

​

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Exhibit 6

​

Ulta Beauty, Inc.

Sales by Category

​

The following tables set forth the approximate percentage of net sales by primary category:

​

​	​	​	​	​
​	​	13 Weeks Ended
​		August 3,		July 29,
​	​	2024	​	2023
Cosmetics	​	39%	​	40%
Skincare	​	24%	​	23%
Haircare	​	20%	​	22%
Fragrance	​	11%	​	9%
Services	​	4%	​	4%
Other	​	2%	​	2%
​	​	100%	​	100%

​

​	​	​	​	​
​	​	26 Weeks Ended
​		August 3,		July 29,
​	​	2024	​	2023
Cosmetics	​	40%	​	42%
Skincare	​	24%	​	22%
Haircare	​	19%	​	21%
Fragrance	​	11%	​	9%
Services	​	4%	​	4%
Other	​	2%	​	2%
​	​	100%	​	100%

​

​

Certain sales departments were reclassified between categories in the prior year to conform to current year presentation, including moving the bath category from Fragrance to Skincare.

​

​

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Document and Entity Information	Aug. 29, 2024
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Aug. 29, 2024
Entity File Number	001-33764
Entity Registrant Name	ULTA BEAUTY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-4022268
Entity Address, Address Line One	1000 Remington Blvd.
Entity Address, Adress Line Two	Suite 120
Entity Address, State or Province	IL
Entity Address, City or Town	Bolingbrook
Entity Address, Postal Zip Code	60440
City Area Code	630
Local Phone Number	410-4800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ULTA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0001403568
Amendment Flag	false

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