ulta salon cosmetics & fragr (34U) Snapshot

Ulta Salon, Cosmetics & Fragrance, Inc. announced unaudited consolidated earnings results for the first quarter ended May 4, 2013. For the quarter, the company reported net sales of $582,712,000 against $474,098,000 for the period ended April 28, 2012. Operating income was $67,695,000 against $57,446,000 for the period ended April 28, 2012. Income before income taxes was $67,719,000 against $57,425,000 for the period ended April 28, 2012. Net income was $41,826,000 against $34,868,000 for the period ended April 28, 2012. Diluted net income per common share was $0.65 against $0.54 for the period ended April 28, 2012. Net cash provided by operating activities was $42,835,000 against $12,546,000 for the period ended April 28, 2012. Purchases of property and equipment were $42,004,000 against $24,799,000 for the period ended April 28, 2012. Comparable store sales (sales for stores open at least 14 months) increased 6.7% including the impact of e-commerce sales, compared to an increase of 10.1% in the first quarter of fiscal 2012 For the second quarter of fiscal 2013, the company currently expects net sales in the range of $579 million to $589 million, compared to actual net sales of $481.7 million in the second quarter of fiscal 2012. Comparable store sales expected to increase 4% to 6%. The company reported a comparable store sales increase of 9.3% in the second quarter of 2012. Income per diluted share is estimated to be in the range of $0.64 to $0.67. This compares to income per diluted share for the second quarter of fiscal 2012 of $0.54. The company is confirming its previously announced fiscal 2013 guidance. The company plans to: achieve comparable store sales growth of approximately 4% to 6%, including the impact of the e-commerce business; expand square footage by 22% with the opening of 125 net new stores; remodel 7 locations; deliver earnings per share growth, on a 52 week adjusted basis, at the low end of the company's long term target of 25% - 30%, including the impact of approximately $0.13 of income per diluted share in incremental investments associated with the planned new store program, supply chain, warehouse systems, and e-commerce site investments, the expansion of prestige brand boutiques, and investments in store labor to support rapid growth in the prestige cosmetics and skincare categories; incur capital expenditures of approximately $225 million in fiscal 2013, compared to $189 million in fiscal 2012; and continue to generate free cash flow. During the first quarter, the company closed 2 stores. During the quarter, the company opened 28 stores located in Ann Arbor, MI; Branson, MO; Carmel, IN; Carson City, NV; Charlotte, NC; Clifton, NJ; Clovis, CA; Columbia, SC; Decatur, AL; East Peoria, IL; Eau Claire, WI; Everett, WA; Gambrills, MD; Hanford, CA; Heath, OH; Holly Springs, NC; Jacksonville, FL; Madison, WI; Nashua, NH; Richmond, TX; Salisbury, MD; Santa Fe, NM; Sioux Falls, SD; Southern Pines, NC; Springfield, MO; Tallahassee, FL; Williamsburg, VA and Woodbridge, VA. The company ended the first quarter with 576 stores and square footage of 6,121,399, which represents a 24% increase in square footage compared to the first quarter of fiscal 2012. Looking ahead to the rest of the year, the company is on track to execute 125 new store plan. The company expects to open 29 stores in the second quarter, 54 stores in the third quarter and 16 stores in fourth quarter of 2013.

Ulta Salon, Cosmetics & Fragrance, Inc. announced the appointment of Kenneth T. Stevens as Non-Executive Chairman of the Board, effective June 6, 2013. Kenneth T. Stevens has succeeded Mr. Dennis K. Eck who was stepped down from his position as Chairman of the Board of Directors of the company, effective June 6, 2013 but remains a member of the Board.

Ulta Salon, Cosmetics & Fragrance, Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-12-2013 02:40 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States.