Ulta Beauty Triumphs Over Industry Slowdown with a Stellar 9.3% Sales Growth
Ulta Beauty has successfully navigated the slowdown in the beauty industry, delivering third-quarter results that surpassed analyst predictions. The beauty retailer announced a 9.3% quarterly net sales increase, leading the company to elevate its full-year forecast to a growth range of 2.5% to 3.5%.
This impressive turnaround is attributed to CEO Kecia Steelman’s innovative “Ulta Beauty Unleashed” plan. This strategy has introduced 24 fresh brands to stores in the previous quarter alone. These include exclusive collaborations with Beyoncé’s hair care line Cécred and Shakira’s Isima. The retailer is also set to launch its eagerly awaited 21 Days of Beauty sale, which runs from August 29 through September 18. This event offers a whopping 50% discount on premium beauty products from renowned brands such as Elemis, Benefit Cosmetics, and Lancôme.
“Engagement with beauty and wellness continues to be robust,” Steelman stated during Thursday’s earnings call. She emphasized how strategic brand collaborations and enhanced in-store experiences have enabled the company to outshine competitors in a tough market.
