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“We believe our model uniquely positions us to win,” says CEO Kecia Steelman.
May 29, 2025
By: Lianna Albrizio
Associate Editor
Fiscal 2025 is off to an “encouraging start” for Ulta Beauty, says CEO Kecia Steelman.
Net sales spiked 4.5% to $2.8 billion for Ulta Beauty in Q1 2025 compared to $2.7 billion the prior-year quarter.
“The operating environment is fluid, and our outlook reflects uncertainty around how consumer demand could evolve,” said Steelman. “We believe our model uniquely positions us to win, and we will continue to focus on serving our guests while staying agile as we move through the year.”
Steelman attributes Q1’s success to the retailer’s Beauty Unleashed plan, which is resonating with guests, energizing its team and fueling growth. Officials also attribute the increase to increased comparable sales and new store contribution, partially offset by a decrease in other revenue. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 2.9% compared to the first quarter of fiscal 2024, driven by a 2.3% increase in average ticket and a 0.6% increase in transactions.
During the first quarter of fiscal 2025, Ulta opened six new stores, remodeled four stores and relocated two stores. At the end of the first quarter of fiscal 2025 the company operated 1,451 stores totaling 15.2 million square feet.
The company expects net sales to be $11.7 billion for fiscal 2025.
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