Ulta Beauty has announced a net sales increase of 12.9% at the end of its first quarter of fiscal 2019.
Compared to 2018 results, the beauty retailer boosted its sales from US$1,543.7m to $1,743m.
This has largely been due to its store expansion across the US.
During the first quarter the company opened 22 stores across Alabama, Maryland, Texas, Pennsylvania, Louisiana, Virginia and Indiana.
“The Ulta Beauty team delivered a strong start to the year with solid first quarter sales and earnings performance,” said Ulta’s CEO Mary Dillon.
“These results reflect a healthy balance of traffic and ticket growth, and double digital comparable sales growth in mass cosmetics, skin care and fragrance, tempered by continued mixed performance in prestige cosmetics.
“We are driving operational excellence across the enterprise, while investing in growth initiatives to fuel the long-term success of Ulta Beauty.”
Thanks to its success, Dillon added, the retailer is now preparing to launch operations in Canada as part of its global expansion.
