Ulta Beauty reports Q4 2024 earnings decline

Ulta Beauty reported its Q4 2024 earnings, revealing a 1.9% decrease in net sales to $3.5 billion compared to the previous year. The company opened nine new stores and saw a 1.5% increase in comparable sales, driven by higher average ticket prices. New CEO Kecia Steelman outlined the "Ulta Beauty Unleashed" plan, focusing on core business growth, scaling new ventures, and optimizing operations. The company aims to enhance guest experiences and improve in-store presentation while addressing challenges from increased competition and market share loss. For fiscal 2025, Ulta expects net sales between $11.5 billion and $11.6 billion, with comparable sales growth projected to be flat to 1%. Operating profit is anticipated to decrease in the low double-digit range due to ongoing investments and inflationary pressures.