🔹 Revenue: $2.85B (Est. $2.79B) 🟢 +4.5% YoY
🔹 EPS: $6.70 (Est. $5.75) 🟢
🔹 Comparable Sales: +2.9% (vs. +1.6% YoY)
🔹 Gross Margin: 39.1% (vs. 39.2% YoY)
🔹 Inventory: $2.1B (+11.3% YoY)
FY25 Guidance
🔹 Revenue: $11.5B–$11.7B (Prior: $11.5B–$11.6B | Est. $11.58B) 😐
🔹 EPS: $22.65–$23.20 (Prior: $22.50–$22.90 | Est. $24.07) 🔴
🔹 Comparable Sales: 0% to +1.5% (Prior: 0% to +1%)
🔹 Operating Margin: 11.7%–11.8% (No change)
🔹 Share Repurchases: ~$900M (No change)
🔹 New Stores: ~60 | Remodels/Relocations: 40–45
🔹 CapEx: $425M–$500M
🔹 Tax Rate: ~24.5%
🔹 Depreciation/Amortization: $290M–$300M
Other Key Q1 Metrics:
🔹 Operating Margin: 14.1% (vs. 14.7% YoY)
🔹 Net Income: $305.1M (vs. $313.1M YoY)
🔹 SG&A Expenses: $710.6M (Up +6.7% YoY)
🔹 Store Footprint: 6 net new stores opened; now 1,451 total
🔹 Share Buybacks: $358.7M repurchased in Q1
🔹 Cash & Equivalents: $454.6M
Management Commentary
🔸 CEO: “Encouraging start to FY25 driven by the success of our Ulta Beauty Unleashed plan. However, outlook reflects consumer demand uncertainty. We remain focused and agile.”