Ulta Beauty Files 10-Q, Details Financials

TL;DR

**ULTA Q3 10-Q FILED: Equity structure detailed, check financials.**

AI Summary

Ulta Beauty, Inc. filed its 10-Q for the period ending November 2, 2024. The company reported its financial performance and position, including details on its common stock, treasury stock, retained earnings, and additional paid-in capital as of November 2, 2024. The filing also references previous periods, such as the quarter ending October 28, 2023.

Why It Matters

This filing provides investors with a detailed look at Ulta Beauty's financial health and changes in its equity structure, crucial for understanding the company's value and stability.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing providing standard disclosures.

Key Numbers

• 0001403568 — Central Index Key (Unique identifier for Ulta Beauty, Inc.)
• 20241102 — Fiscal Period End Date (The end date for the reported financial period.)

Key Players & Entities

• Ulta Beauty, Inc. (company) — Filer of the 10-Q
• November 2, 2024 (date) — End of the reporting period
• October 28, 2023 (date) — Previous reporting period referenced

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share ULTA The NASDAQ Global Se

Filing Documents

• ulta-20241102x10q.htm (10-Q) — 1515KB
• ulta-20241102xex31d1.htm (EX-31.1) — 16KB
• ulta-20241102xex31d2.htm (EX-31.2) — 16KB
• ulta-20241102xex32.htm (EX-32) — 11KB
• 0001558370-24-016048.txt ( ) — 5398KB
• ulta-20241102.xsd (EX-101.SCH) — 28KB
• ulta-20241102_cal.xml (EX-101.CAL) — 36KB
• ulta-20241102_def.xml (EX-101.DEF) — 119KB
• ulta-20241102_lab.xml (EX-101.LAB) — 291KB
• ulta-20241102_pre.xml (EX-101.PRE) — 211KB
• ulta-20241102x10q_htm.xml (XML) — 833KB

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets 3 Consolidated Statements of Income 4 Consolidated Statements of Cash Flows 5 Consolidated Statements of Stockholders' Equity 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 24

Controls and Procedures

Item 4. Controls and Procedures 25

- Other Information

Part II - Other Information 25

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26

Other Information

Item 5. Other Information 26

Exhibits

Item 6. Exhibits 26

SIGNATURES

SIGNATURES 28 2 Table of Contents

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements Ulta Beauty, Inc. Consolidated Balance Sheets November 2, February 3, October 28, (In thousands, except per share data) 2024 2024 2023 Assets (Unaudited) (Unaudited) Current assets: Cash and cash equivalents $ 177,782 $ 766,594 $ 121,811 Receivables, net 213,621 207,939 202,868 Merchandise inventories, net 2,365,186 1,742,136 2,321,306 Prepaid expenses and other current assets 135,514 115,598 117,282 Prepaid income taxes 62,759 4,251 28,773 Total current assets 2,954,862 2,836,518 2,792,040 Property and equipment, net 1,264,419 1,182,335 1,117,874 Operating lease assets 1,619,055 1,574,530 1,578,316 Goodwill 10,870 10,870 10,870 Other intangible assets, net 281 510 591 Deferred compensation plan assets 48,872 43,516 38,371 Other long-term assets 60,127 58,732 56,946 Total assets $ 5,958,486 $ 5,707,011 $ 5,595,008 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 593,219 $ 544,001 $ 597,373 Accrued liabilities 333,463 382,468 405,443 Deferred revenue 405,040 436,591 350,937 Current operating lease liabilities 284,985 283,821 287,786 Accrued income taxes — 11,310 — Short-term debt 199,700 — 195,400 Total current liabilities 1,816,407 1,658,191 1,836,939 Non-current operating lease liabilities 1,656,317 1,627,271 1,616,747 Deferred income taxes 91,729 85,921 56,874 Other long-term liabilities 65,024 56,300 55,906 Total liabilities 3,629,477 3,427,683 3,566,466 Commitments and contingencies (Note 6) Stockholders' equity: Common stock, $ 0.01 par value, 400,000 shares authorized; 47,412 , 49,123 , and 49,458 shares issued; 46,569 , 48,324 , and 48,659 shares outstanding; at November 2, 2024 (unaudited), February 3, 2024, and October 28, 2023 (unaudited), respectively 474 491 495 Treasury stock-common, at c

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (In thousands, except per share and store count data) (Unaudited) 1. Business and basis of presentation Ulta Beauty, Inc. was founded in 1990 to operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services. Nearly every store features a full-service salon. As used in these notes and throughout this Quarterly Report on Form 10-Q, all references to "we," "us," "our," "Ulta Beauty," or the "Company" refer to Ulta Beauty, Inc. and its consolidated subsidiaries. As of November 2, 2024, the Company operated 1,437 stores across 50 states, as shown in the table below. Number of Number of Location stores Location stores Alabama 27 Montana 6 Alaska 3 Nebraska 5 Arizona 38 Nevada 16 Arkansas 11 New Hampshire 8 California 172 New Jersey 46 Colorado 27 New Mexico 7 Connecticut 21 New York 57 Delaware 4 North Carolina 47 Florida 101 North Dakota 4 Georgia 44 Ohio 48 Hawaii 4 Oklahoma 23 Idaho 10 Oregon 21 Illinois 56 Pennsylvania 46 Indiana 26 Rhode Island 5 Iowa 12 South Carolina 27 Kansas 14 South Dakota 3 Kentucky 16 Tennessee 34 Louisiana 18 Texas 138 Maine 3 Utah 17 Maryland 29 Vermont 1 Massachusetts 27 Virginia 36 Michigan 50 Washington 37 Minnesota 21 West Virginia 7 Mississippi 12 Wisconsin 22 Missouri 26 Wyoming 4 Total 1,437 The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and the U.S. Securities and Exchange Commission's Article 10, Regulation S-X. These financial statements were prepared on a consolidated basis to include the accounts of the Company and its wholly owned subsidiaries. All significant in