Ulta Beauty posts above expectation Q4 2018 results

Sales grew 9.7% boosted by investment in bricks-and-mortar retail

US retail giant Ulta Beauty has reported above expectation sales and earnings results for the fourth quarter 2018, with net sales up 9.7% to $2.1bn.

Comparable sales in the quarter increased 9.4%, while for the full year, net sales increased 14.1% to $6.7bn.

Excluding sales for the 53rd week in fiscal 2017 of $108.8m, net sales increased 16.3%.

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