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Ulta Beauty (ULTA) Q2 2021 Earnings Call Transcript
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Ulta Beauty (NASDAQ:ULTA)
Q2 2021 Earnings Call
Aug 25, 2021, 4:30 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good afternoon, and welcome to Ulta Beauty’s conference call to discuss results for the second quarter of fiscal 2021. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Ms. Kiley Rawlins, vice president of investor relations. Ms. Rawlins, please proceed.

Kiley Rawlins — Vice President of Investor Relations

Thank you, Paul. Good afternoon, everyone. Hosting our call today are Dave Kimbell, chief executive officer; and Scott Settersten, chief financial officer. Kecia Steelman, chief operating officer, will join us for the Q&A session.

This afternoon, we released our financial results for the second quarter of fiscal 2021. A copy of the press release is available in the Investor Relations section of our website. Before we begin, I’d like to remind you of the company’s Safe Harbor language. The statements contained in this conference call which are not historical facts may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Actual or future results may differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company’s filings with the SEC. We caution you

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|In: Believe Beauty|Last Updated:
Why Target Earnings Were being Superior Information for Ulta Splendor

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Dreamstime


Concentrate on

reported fiscal next-quarter effects on Wednesday, and although that has not carried out a great deal to assist the inventory, it could be good news for its new cosmetics associate, Ulta Magnificence.

Concentrate on (ticker: TGT) and

Ulta Attractiveness

(ULTA) introduced their partnership in November 2020. It is a store-inside-a-shop model that department outlets have adopted with elegance brands in the earlier, and properly-trodden ground for Focus on, as it is paired with other specialty makes like

Levi Strauss & Co.

(LEVI). The initially Ulta shops in Concentrate on are rolling out this thirty day period, with the firms aiming for more than 100 areas to open by the stop of the 12 months.

In that feeling, what’s great for Target is superior for Ulta. And though investors might not have been thrilled with Target’s effects, there were promising tendencies in the quarter that bode very well for Ulta.

Website traffic to Target was larger in the quarter—and much more foot traffic will give extra individuals a likelihood to uncover the new Ulta shops—while normal investing was up on a two-year foundation. Concentrate on also expects same-retailer gross sales, which squeaked earlier estimates this quarter, to proceed to increase in advance of anticipations.

Despite the enormous leaps in on line sales in the calendar year-in the past interval, owing to the Covid-19 pandemic, Goal nonetheless managed to notch a 10% achieve in digital sales. Ulta products will be accessible to purchase on Target’s website, and

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|In: Believe Beauty|Last Updated:
Ulta Beauty’s initial mini shops will open up in Target in August

Setting up in August, Concentrate on consumers will be able to stroll into select big-box outlets and get top quality manufacturers of mascara, lipstick and hairspray that they generally only locate at specialty merchants or at the mall.

Ulta Magnificence reported Wednesday that it will open its first splendor retailers within of Concentrate on up coming month. The mini retailers will aspect an assortment of goods from extra than 50 prestige brands for makeup, pores and skin treatment and hair, like Clinique, Urban Decay, Tarte, MAC Cosmetics, Drybar, Jack Black and Ariana Grande.

Goal will also sell the curated blend of products and solutions on its internet site.

The merchants stated they will open up far more than 100 outlets by the conclusion of the year, with plans to improve to a whole of 800 stores above the upcoming few decades. That signifies much more than a 3rd of Target merchants throughout the region could eventually include a mini Ulta store. Each individual store will be about 1,000 square feet — about a single-tenth the size of a regular Ulta store.

By putting a scaled-down, brightly colored attractiveness store inside of Focus on, both of those shops hope to appeal to new buyers, deepen shopper loyalty and persuade retailer trips.

Goal must demonstrate it can preserve escalating – even just after getting billions of bucks of industry share for the duration of the pandemic – as it goes up towards difficult calendar year-about-year comparisons. Ulta Natural beauty, on the other

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|In: Believe Beauty|Last Updated:
Mixed Earnings Craze Could Pull Ulta Natural beauty Inventory Down To $300

Ulta Beauty Inc. inventory (NASDAQ: ULTA) is up additional than 20% considering that the starting of this 12 months, and at the existing rate of $341 for every share, we believe that Ulta Natural beauty stock has in excess of 10% prospective draw back.

Why is that? Our perception stems from the point that Ulta Elegance stock is up additional than 1.5x because 2017 stop, and right after a blended new earnings development, we believe Ulta Elegance stock could head decreased. Our dashboard What Things Drove 52% Adjust In Ulta Elegance Inventory Between 2017 And Now? gives the critical figures powering our pondering, and we reveal far more below.

Ulta Magnificence is an American chain of beauty merchants, whose inventory cost rise considering that 2017 came owing to an 18% maximize in revenues from $5.88 billion in FY 2017 to $6.92 billion above the past 4 quarters (Ulta’s fiscal 12 months ends in January). Mixed with a 9% fall in the superb share depend, RPS (earnings for each share) jumped from $95.60 in FY 2017 to $124.10 on an LTM foundation.

Further more, Ulta’s P/S (price-to-income) ratio jumped from 2.1x in 2017 to 2.6x by 2020 stop, and has due to the fact risen marginally to 2.7x at the moment. We

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