Ulta Beauty (NASDAQ: ULTA) 4Q18 Results: 14.4% Active Member Growth During FY18 Drives 9.4% Comp Growth

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Key Points

  • Ulta Beauty reported adjusted EPS of $3.61 for 4Q18, excluding the benefit from tax reform related items in fiscal 2017, beating the consensus estimate of $3.50-3.55, and revenue of $2.12 billion, beating the consensus estimate of $2.11 billion.
  • Gross margin improved 90 basis points (bps) to 34.9% year over year, with 60 bps driven by new revenue recognition accounting and 30 bps attributed to merchandise margin improvement.
  • The company’s fiscal 2019 outlook calls for revenue growth in the low-double-digit percentage range, 6-7% comp growth, 20-30% e-commerce growth and adjusted EPS in the range of $12.65-12.85.

Ulta Beauty reported adjusted EPS of $3.61 for 4Q18, excluding the benefit from tax reform related items in fiscal 2017, beating the consensus estimate of $3.50-3.55, and revenue of $2.12 billion, beating the consensus estimate of $2.11 billion.

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