DOCSLIB.ORG

2020 Annual Report Financial Highlights

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Annual Report Financial Highlights 2020 ANNUAL REPORT FINANCIAL HIGHLIGHTS NET SALES (IN MILLIONS) $8000 $7,398.1 $7000 $6,716.6 $6,152.0 $6000 $5,884.5 $5000 $4,854.7 $4000 $3000 $2000 $1000 $0 2016 2017 2018 2019 2020 STORE COUNT 1,264 1,254 1260 1,174 1,074 1060 974 860 660 460 260 60 2016 2017 2018 2019 2020 -40 STORE COUNT BY STATES 34 6 3 3 17 1 19 7 9 21 3 20 49 3 48 3 10 15 5 44 17 43 49 14 55 24 156 26 7 3 13 25 30 15 27 34 30 21 27 7 10 20 10 22 38 117 18 3 86 4 Alabama 22 Hawaii 4 Massachusetts 21 New Mexico 7 South Dakota 3 Alaska 3 Idaho 9 Michigan 48 New York 49 Tennessee 27 Arizona 30 Illinois 55 Minnesota 19 North Carolina 34 Texas 117 Arkansas 10 Indiana 24 Mississippi 10 North Dakota 3 Utah 14 California 156 Iowa 10 Missouri 25 Ohio 43 Vermont 1 Colorado 26 Kansas 13 Montana 6 Oklahoma 21 Virginia 30 Connecticut 17 Kentucky 15 Nebraska 5 Oregon 17 Washington 34 Delaware 3 Louisiana 18 Nevada 15 Pennsylvania 44 West Virginia 7 Florida 86 Maine 3 New Hampshire 7 Rhode Island 3 Wisconsin 20 Georgia 38 Maryland 27 New Jersey 42 South Carolina 20 Wyoming 3 DILUTED EARNINGS PER SHARE $14 $12.15 $12 $10.94 $10 $8.96 $8 $6.52 $6 $4 $3.11 $2 $0 2016 2017 2018 2019 2020 FISCAL YEAR ENDED(1) (In thousands, except per share, per square foot and store count data) Statement of Operations: January 30, 2021 February 1, 2020 February 2, 2019(2) February 3, 2018(3) January 28, 2017 Net sales $ 6,151,953 $ 7,398,068 $ 6,716,615 $ 5,884,506 $ 4,854,737 Cost of sales 4,202,794 4,717,004 4,307,304 3,787,697 3,107,508 Gross profit 1,949,159 2,681,064 2,409,311 2,096,809 1,747,229 Selling, general and administrative expenses 1,583,017 1,760,716 1,535,464 1,287,232 1,073,834 Impairment, restructuring and other costs 114,322 – – – – Pre-opening expenses 15,000 19,254 19,767 24,286 18,571 Operating income 236,820 901,094 854,080 785,291 654,824 Interest expense (income), net 5,735 (5,056) (5,061) (1,568) (890) Income before income taxes 231,085 906,150 859,141 786,859 655,714 Income tax expense (4) 55,250 200,205 200,582 231,625 245,954 Net income $ 175,835 $ 705,945 $ 658,559 $ 555,234 $ 409,760 Net income per common share: Basic $ 3.12 $ 12.21 $ 11.00 $ 9.02 $ 6.55 Diluted $ 3.11 $ 12.15 $ 10.94 $ 8.96 $ 6.52 Weighted average common shares outstanding: Basic 56,351 57,840 59,864 61,556 62,519 Diluted 56,558 58,105 60,181 61,975 62,851 Other operating data: Comparable sales (5) (17.9%) 5.0% 8.1% 11.0% 15.8% Number of stores end of year 1,264 1,254 1,174 1,074 974 Total square footage end of year 13,291,838 13,193,076 12,337,145 11,300,920 10,271,184 Total square footage per store (6) 10,516 10,521 10,509 10,522 10,545 Average total square footage (7) 13,260,705 12,804,988 11,893,413 10,742,874 9,641,367 Capital expenditures $ 151,866 $ 298,534 $ 319,400 $ 440,714 $ 373,747 Depreciation and amortization $ 297,772 $ 295,599 $ 279,472 $ 252,713 $ 210,295 Repurchase of common shares $ 114,895 $ 680,979 $ 616,194 $ 367,581 $ 344,275 Balance Sheet Data: Cash and cash equivalents $ 1,046,051 $ 392,325 $ 409,251 $ 277,445 $ 385,010 Short-term investments – 110,000 – 120,000 30,000 Working capital 1,171,064 918,056 1,091,125 1,051,577 1,006,894 Property and equipment, net 995,795 1,205,524 1,226,029 1,189,453 1,004,358 Total assets (8) 5,089,969 4,863,872 3,191,172 2,908,687 2,551,878 Operating lease liabilities (8) 1,896,801 1,938,347 – – – Total stockholders’ equity 1,999,549 1,902,094 1,820,218 1,774,217 1,550,218 (1) Our fiscal year-end is the Saturday closest to January 31 based on a 52/53 week year. Each fiscal year consists of four 13 week quarters, with an extra week added onto the fourth quarter every five or six years. (2) The Company adopted Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) using the modified retrospective transition method in fiscal 2018. Results from fiscal years prior to fiscal 2018 have not been recast for the adoption of ASC 606. (3) Fiscal 2017 includes 53 weeks; all other fiscal years reported include 52 weeks. Net sales for the 53rd week of fiscal 2017 were approximately $108.8 million. (4) On December 22, 2017, the Tax Cuts and Jobs Act was enacted into law. This new legislation reduced the federal corporate tax rate to 21.0% effective January 1, 2018. In accordance with Section 15 of the Internal Revenue Code, the Company utilized a blended rate of 33.7% for the fiscal 2017 tax year, by applying a prorated percentage of the number of days prior to and subsequent to the January 1, 2018 effective date. Income tax expense in fiscal 2018 reflects the lower federal tax rate for the entire fiscal year. (5) Comparable sales reflects sales for stores beginning on the first day of the 14th month of operation. Remodeled stores are included in comparable sales unless the store was closed for a portion of the current or comparable prior year. (6) Total square footage per store is calculated by dividing total square footage at end of year by number of stores at end of year. (7) Average total square footage represents a weighted average, which reflects the effect of opening stores in different months throughout the year. (8) The Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842), on February 3, 2019 using the modified retrospective approach by recognizing and measuring leases without revising comparative period information or disclosures. 79530_ULTA AnnualReport_2020.indd 3 3/30/21 12:19 PM Dear Fellow Shareholder, As we all know, 2020 was a year unlike any other but the Ulta Beauty team navigated through the disruption with agility and strength. Net sales for the year were $6.2 billion, total company comparable sales decreased 17.9%, and diluted earnings per share totaled $3.11. Despite the broad challenges, Ulta Beauty gained share in the U.S. prestige beauty market, specifically in key categories such as makeup, skincare and fragrance. Looking back on the year, it’s clear that the COVID-19 pandemic had far-reaching implications on all facets of our business. Still, I am incredibly proud of how our team kept the safety of our associates and guests at the center of every decision we made. As the COVID-19 crisis escalated, we made the decision to temporarily close all of our stores on March 19. Reflecting heightened guest focus on safety and social distancing, our digital and store teams moved quickly to support our digital business and on April 19, we launched a new touchless curbside pickup option for our guests. Following guidance from state and local health officials, we started a phased store reopening process on May 11, and by July 20, the full fleet of Ulta Beauty stores was operational. As we reopened stores for retail, we implemented new Shop Safe Standards to help guests feel confident and comfortable shopping in our stores. While store traffic was challenged and capacity was limited throughout most of 2020, we are incredibly pleased with guest engagement in our e-commerce operations. As a result of the strong utilization of buy online, pick up in store (BOPIS), curbside and ship-to-home offerings, our digital business doubled in 2020. In response to the pandemic and evolving operating environment, we introduced six strategic priorities to accelerate efforts to expand our market share gains and extend our competitive advantages. I’m pleased to report that we made great progress in each area. Transform our business to win in an omnichannel world We believe that the successful retailers of the future will bring together the physical, digital and emotional components of the shopping experience. There is an increased blurring of lines between channels, as shoppers buy online and pick up in store and buy online in store for delivery to their home. To continue to evolve with guest behavior, we are investing in omnichannel capabilities to build a seamless guest experience, enabling us to interact and engage with guests in whatever channel they choose. The in-store experience remains core to the Ulta Beauty value proposition because it continues to be the preferred channel for beauty enthusiasts to engage in trial and discovery. After temporarily suspending our new store opening program in response to COVID-19, we resumed new store openings in early August and opened 30 new stores during 2020. We plan to open 40 net new stores in 2021 and are confident that we can ultimately operate between 1,500 to 1,700 Ulta Beauty stores in the U.S. During 2020, we quickly shifted our focus to support the increased demand in our e-commerce channel. We expanded our e-commerce fulfillment capabilities, which included pulling forward the opening of our Jacksonville fast fulfillment center, expanding e-commerce operations in existing distribution centers, and expanding our ship-from-store program to 115 stores.
Load more

Recommended publications
  • Opening a Salon Checklist
    OPENING FROM A SALON CHECKLIST STEP 1: PLAN & ESTABLISH BUSINESS Select a name & business legal structure Develop your business plan, financial projections & budget Develop business branding, logo & identity Obtain your cosmetology license (if applicable) Obtain a federal employer ID number Obtain a state tax ID Open a company bank account Choose a website domain name & register it Research local zoning to locate areas with proper zoning for salons Choose a location for your salon & sign a lease/purchase space STEP 2a: OPERATIONAL SETUP Research inspection requirements, local codes & regulations for your area Research, interview & hire plumbers, electricians & handymen Create salon layout & design plan Map out electrical & plumbing Apply for business licenses & building permits STEP 2b: OPERATIONAL SETUP Arrange any needed financing Obtain business insurance coverage Contact utility providers (power, security, water, waste, etc.) Choose a phone & internet provider Choose suppliers for wet goods & consumables Choose a credit card processing company Purchase point of sale equipment Purchase computers & appointment-booking software Purchase & set up accounting & record-keeping software Purchase business cards Purchase outdoor & indoor signage STEP 3: PURCHASING YOUR EQUIPMENT Note: Start purchasing these items 8 - 12 weeks before your grand opening day. You'll want to give yourself plenty of time to get shampoo bowls plumbed in, electrical finalized, etc. STYLING CHAIRS DRYERS/STEAMERS/HAIR PROCESSORS Salon Styling Chair Dryer Unit: Hooded
    [Show full text]
  • Fashion Law 2018
    Fashion Law 2018 Presented by Anthony Lupo, Arent Fox Smart In Your World Hot Topics − Omni-Channeling and CRM − AI, IoT and VR − Data Collection and Privacy − False pricing 2 Omni-Channeling and CRM Omni-Channel − Macy’s is implementing Apple’s iBeacon technology. − Will let customers receive personalized discounts, rewards and recommendations on their mobile phones when they visit Macy’s stores. − In 2013, Nordstrom tested technology that allowed it to track customers’ movements by following the wi-fi signals from their smartphones. 4 Omni-Channel − Omni-channel: tracking consumers across all brand platforms through data integration. − Consumers no longer have single brick and mortar point-of-contact with brands. − Companies collecting data from consumers in brick and mortar stores, websites, mobile apps, social media, etc. − Example Privacy Policy disclosure: − “We collect information from our website, our mobile applications, our stores, and certain third parties. We may combine all the information we collect and we may disclose this information within the corporate family.” 5 Omni-Channel and In-store Tracking − Brands can easily track online shopping patterns, but what about in-store shopping? − In-Store Tracking: Using “mobile location analytics” retailers can use mobile phones to track customers in brick and mortar stores. − Tracks repeat customers, customer shopping patterns, check-out waiting time, optimal store layout, etc. − Could allow retailers to see a customer’s purchase history as soon as they walk in. 6 Omni-Channel and In-store Tracking − Industry Code of Conduct attempts to set limits on use of in-store tracking. − Requires conspicuous in-store notice to consumers − Example Privacy Policy Disclosure: − “We may collect certain non-personally identifiaBle information from you when you visit our stores.
    [Show full text]
  • Beauty Salon and Barber Shop Product Claim Examples
    Beauty Salon and Barber Shop Product Claim Examples u General Liability u Property A patron at a nail salon was receiving a manicure. As she The nail salon’s pipe broke from the pedicure chair, causing stood up, she fainted from the fumes causing fractures to damage to the insured’s property. The cost to replace the her face. Medical costs were $150,000 after reconstructive damaged items was $5,000. facial surgery. A stylist did not unplug his hair dryer when he left the salon. A hair stylist was providing hair cutting services to her The dryer short-circuited and caused $20,000 in damages to customer. As it was very busy that day, the stylist was the salon. not able to sweep up the hair before accepting the next customer. The next customer slipped and broke his wrist when he tried to catch himself. Because he was a computer programmer, he was not able to perform his duties. Medical and lost wage costs totaled $50,000. u Professional Liability A patron came in to receive a pedicure. Unknown to the nail technician, the patron had a skin disease. The pedicure procedure aggravated the skin, which caused an infection resulting in $25,000 in medical costs for the patron. The hair stylist used her normal hair dying solution on a new customer. The customer had a severe allergic reaction to the chemicals and was hospitalized for two days. The medical and loss wage costs were $20,000. Policyholders have access to many services through our Business Resource Center that will assist in growing and protecting their business.
    [Show full text]
  • Mastering Intellectual Property 00 Kuney Cx3 10/1/08 4:28 PM Page Ii
    00 kuney cx3 10/1/08 4:28 PM Page i Mastering Intellectual Property 00 kuney cx3 10/1/08 4:28 PM Page ii Carolina Academic Press Mastering Series Russell Weaver, Series Editor Mastering Bankruptcy George W. Kuney Mastering Civil Procedure David Charles Hricik Mastering Corporations & Other Business Entities Lee Harris Mastering Criminal Law Ellen S. Podgor, Peter J. Henning, Neil P. Cohen Mastering Evidence Ronald W. Eades Mastering Intellectual Property George W. Kuney, Donna C. Looper Mastering Legal Analysis and Communication David T. Ritchie Mastering Negotiable Instruments (UCC Articles 3 and 4) and Other Payment Systems Michael D. Floyd Mastering Products Liability Ronald W. Eades Mastering Professional Responsibility Grace Giesel Mastering Secured Transactions Richard H. Nowka Mastering Statutory Interpretation Linda D. Jellum Mastering Tort Law Russell L. Weaver, John H. Bauman, Ronald W. Eades, Andrew R. Klein, Edward C. Martin, Paul J. Zwier II 00 kuney cx3 10/2/08 10:32 AM Page iii Mastering Intellectual Property George W. Kuney W.P. Toms Professor of Law and the Director of the James L. Clayton Center for Entrepreneurial Law University of Tennessee College of Law Donna C. Looper Adjunct Professor of Law University of Tennessee College of Law Carolina Academic Press Durham, North Carolina 00 kuney cx3 10/2/08 10:32 AM Page iv Copyright © 2009 George W. Kuney Donna C. Looper All Rights Reserved Library of Congress Cataloging in Publication Data Kuney, George W. Mastering intellectual property / George W. Kuney and Donna C. Looper. p. cm. -- (Carolina Academic Press mastering series) Includes index. ISBN 978-1-59460-392-1 (alk.
    [Show full text]
  • THE COMPLETE SALON EQUIPMENT GUIDE PAGE 3 General Salon Equipment
    The Complete WWW.JOINBLVD.COM Salon Equipment Everything You Need to Guide Outfit Your Salon Contents Introduction 03 Ring light for salon photos 12 General Salon Equipment 04 Cleaning products 12 Checklist and price ranges 13 Reception area equipment 04 Retail display shelving 05 Nail salons 14 Commercial laundering equipment 05 Manicure stations 14 Outdoor signage 06 Pedicure chairs 14 Checklist and price ranges 06 Nail drying station 14 Hair salons 07 Nail polish racks 15 Manicure/pedicure supplies 15 Aprons and cutting capes 07 Checklist and price ranges 15 Towels 07 Hand mirrors 08 Protecting stylists during COVID-19 16 Spray bottles 08 Georgia Board of Cosmetology 17 Hair clips 08 practices 09 Combs and brushes Personal protective equipment for salons 18 Salon scissors 09 Hairdryers 09 Hand protection 18 Hair straighteners 10 Eye protection 18 Curling irons 10 Respiratory Protection 18 Hair clippers 10 Checklist and price ranges 18 Salon chairs 11 Conclusion 19 Salon carts & trolleys 11 Shampoo station (backwash) 11 About Boulevard 19 Hairstyling stations 12 Introduction Salon owners know there’s more to starting a how do you run a professional hair salon without business than professional cosmetology licensure. shampoo bowls and salon chairs? Whether you’re starting a salon from the studs up or scaling your You must buy or rent a location, locate comfortable existing operations, these are the crucial details that furniture, and order enough salon equipment you need to get right. to support clients and stylists. Without these considerations, your salon is little more than a few In our salon equipment guide, we’ve summarized empty rooms.
    [Show full text]
  • Crowded House Skin Clinic, Hair & Beauty Salon
    CROWDED HOUSE SKIN CLINIC, HAIR & BEAUTY SALON 626 Manchester Road Bury BL9 9SU 0161 280 5905 BOOK ONLINE AT www.crowdedhousebury.co.uk CROWDED HOUSE SKIN CLINIC, HAIR & BEAUTY SALON Hair Hair Cutting & Styling Hair Consultation 10mins £0 Ladies Wash, Cut & Blow 1h £35 Ladies Restyle, Cut & Blow Dry 1h £39 Wash & Blow Dry/Straighten/Wanded/Pin Curl/ 1h £22 Curly Blow/Put Up/Party Curls Unwashed Straightened/Wanded/Pin Curl/Curly Blow/ 40mins £19 Put Up/Party Curls Perm With Cut & Blow Dry (OAP’s) 1h 30mins £45 Braids & Plaites (not washed) 20mins £10 Fringe Trim 5mins £5 Gents Dry Cut 45mins £10 Gents Wash, Head Massage, Cut & Style 30mins £15 Gents Wash, Head Massage, Cut & Restyle 30mins £22 Child Hair Cut (Under 10yrs) 30mins £10 Child Under 10 Wash Cut & Finish 30mins £15 Innoluxe re bonding conditioner that reinforces 20mins £25 your hairs strength Luxury Head Massage 5mins £5 Tape Extensions (with your own Extensions, includes fitting & cut) 1h 15mins £80 Tape Extensions (Extensions supplied, includes fitting & cut) 1h 15mins £300 2 CROWDED HOUSE SKIN CLINIC, HAIR & BEAUTY SALON Fashion Colours (Semi Permanent, note: patch test required 24 hours prior to treatment) 1 Fashion Colour & Blow Wave for Long Hair 1h 30mins £35 (Add £10 for each addtional colour) 1 Fashion Colour & Blow Wave for Medium Hair 1h 25mins £30 (Add £7 for each addtional colour) 1 Fashion Colour & Blow Wave for Short Hair 1h £25 (Add £5 for each addtional colour) Highlights (note: patch test required 24 hours prior to treatment) (If Cut & Blow Required Pls Book Additional Required Service.
    [Show full text]
  • Consuming Beauty in the Weimar Republic: a Discussion of Youth, Cosmetics, and Power in Vicki Baum's Play Pariser Platz 13 (1930)
    Studies in 20th & 21st Century Literature Volume 43 Issue 2 Article 47 December 2019 Consuming Beauty in the Weimar Republic: A Discussion of Youth, Cosmetics, and Power in Vicki Baum's play Pariser Platz 13 (1930) Victoria Vygodskaia - Rust Southeast Missouri State University, [email protected] Follow this and additional works at: https://newprairiepress.org/sttcl Part of the Film and Media Studies Commons, French and Francophone Literature Commons, German Literature Commons, Latin American Literature Commons, Modern Literature Commons, and the Spanish Literature Commons This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License. Recommended Citation Vygodskaia - Rust, Victoria (2019) "Consuming Beauty in the Weimar Republic: A Discussion of Youth, Cosmetics, and Power in Vicki Baum's play Pariser Platz 13 (1930)," Studies in 20th & 21st Century Literature: Vol. 43: Iss. 2, Article 47. https://doi.org/10.4148/2334-4415.2064 This Article is brought to you for free and open access by New Prairie Press. It has been accepted for inclusion in Studies in 20th & 21st Century Literature by an authorized administrator of New Prairie Press. For more information, please contact [email protected]. Consuming Beauty in the Weimar Republic: A Discussion of Youth, Cosmetics, and Power in Vicki Baum's play Pariser Platz 13 (1930) Abstract Published in 1930, Vicki Baum’s play Pariser Platz 13: Eine Komödie aus dem Schönheitssalon engaged the readership with an unorthodox and thoroughly modern heroine: the successful owner of international beauty salons Helen Bross. Helen personified the wishes and dreams of Baum’s readers: Helen’s autonomy, both personal and financial, allowed her ot be an active consumer of modernity and its pleasures: travel, interaction with celebrities, and luxurious lodging.
    [Show full text]
  • Beauty Salon, Barber Shop and Spa
    Beauty salon, barber shop and spa SUPPLEMENTAL APPLICATION 1. Name of applicant or insured: ________________________________________________________________________________ 2. Total number of staff, including independent contractors: _______________________________________________________ 3. Are all employees, including independent contractors, required to maintain appropriate license/certification for services provided and are those licenses displayed according to state regulations? Yes No 4. Has any employee’s license been revoked or suspended at any point in the past year? Yes No If “Yes,” please provide detailed explanation: __________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ 5. Please provide areas of practice by percentages, total must equal 100%: AREA OF PRACTICE PERCENTAGE AREA OF PRACTICE PERCENTAGE Body wrapping % Body waxing % Non-surgical facelifts % Laser vein removal % Collagen fillers % Massage % Ear piercing % Microdermabration % Electric or steam baths % Nail technician % Excerising services % Chemical peels % Photofacials % Weight loss counselor % Photorejuvenation % Hair weaving % Skin treatments/facial % Diet or physical fitness (does not apply to % the use of physical fitness)* Any hair removal by electrolysis or any surgical % Chiropody and/or podiatry* % procedure to remove or replace
    [Show full text]
  • United States District Court District of Massachusetts
    Case 1:09-cv-11081-RWZ Document 101 Filed 02/15/12 Page 1 of 9 UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS CIVIL ACTION NO. 09-11081-RWZ PALOMAR MEDICAL TECHNOLOGIES, INC., and THE GENERAL HOSPITAL CORPORATION v. TRIA BEAUTY, INC. ORDER February 15, 2012 ZOBEL, D.J. Plaintiffs Palomar Medical Technologies, Inc. (“Palomar”), and The General Hospital Corporation bring this action for patent infringement against defendant TRIA Beauty, Inc. (“TRIA”). They claim that TRIA’s Laser Hair Removal System infringes on two of their patents entitled “Permanent Hair Removal Using Optical Pulses” (“the ’568 patent”) and “Hair Removal Using Optical Pulses” (“the ’844 patent”) (collectively, “patents-in-suit”), issued in 1997 and 1998, respectively. TRIA counterclaims that among other things plaintiffs’ alleged withholding of material references and prior art from the U.S. Patent and Trademark Office during the prosecution of the patents-in-suit renders them invalid and/or unenforceable. TRIA disclosed Dr. Kenneth Arndt as an expert on infringement and invalidity1 and notified plaintiffs that it intended to disclose “confidential” or “highly confidential” 1 TRIA describes the issues Dr. Arndt addresses in his expert reports as “whether TRIA’s device infringes the asserted claims of the patents-in-suit and whether those claims are invalid. As to invalidity, Dr. Arndt opines on whether the asserted claims are anticipated by, or obvious in light of, the prior art as of the relevant date, which is approximately the 1994-1995 timeframe.” Docket # 82 at 2. Case 1:09-cv-11081-RWZ Document 101 Filed 02/15/12 Page 2 of 9 information to him pursuant to the protective order which I entered on November 25, 2009.
    [Show full text]
  • ULTA BEAUTY, INC. (Exact Name of Registrant As Specified in Its Charter) Delaware 38-4022268 (State Or Other Jurisdiction of (I.R.S
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 30, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____________ to _____________ Commission File Number: 001-33764 ULTA BEAUTY, INC. (Exact name of registrant as specified in its charter) Delaware 38-4022268 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1000 Remington Blvd., Suite 120 60440 Bolingbrook, Illinois (Zip code) (Address of principal executive offices) Registrant’s telephone number, including area code: (630) 410-4800 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common stock, par value $0.01 per share ULTA The NASDAQ Global Select Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ⌧ Yes ◻ No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ◻ Yes ⌧ No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Ulta-Beauty-Case-Study.Pdf
    W&M-M-196 ULTA BEAUTY1 Introduction Ulta announced record-breaking financial performance in the third quarter of FY2016. Revenues increased by 24.2 percent to $1.131 billion, while comparable sales and transactions grew by 16.7 and 11.1 percent, respectively. The retailer had consistently grown revenues by greater than 20 percent since FY2010. During this time, Ulta had also increased net income from 3.2 percent in FY2009 to 8.2 percent in FY2015, through careful management of SG&A expenses, which had dropped from 24.7 percent in FY2009 to 22 percent in FY2015. Further financial information is found in Exhibit 1. As a result, shares of Ulta grew 38 percent in 2016, exceeding the S&P 500 by approximately four times during the same period1. In 2015, Ulta became the largest beauty specialist retailer in the U.S. Ulta was uniquely positioned in the marketplace by offering both mass brands (e.g., CoverGirl, Maybelline) and prestige brands (e.g., Lancome, Clinique).2 According to Fabian Garcia, CEO of Revlon, Ulta “has completely debunked the old notion that you were either prestige or mass. The fact that Ulta challenged the old paradigm is a good enough proof that the world is moving.”3 Brian Yarbrough, an analyst at Edward Jones & Company, agreed by stating that, “they are changing the way people shop as they have allowed people to buy both mass and prestige, as well as get salon, brow and other services which historically would have been done at multiple locations. No other retailer offers all three in the same spot.”4 The retailer attracted “beauty enthusiasts”, who were heavy purchasers of beauty products.5 The company estimated that there were 72 million “beauty enthusiasts”.
    [Show full text]
  • Understanding and Litigating Trade Secrets Under Illinois
    Practice Series UNDERSTANDING AND LITIGATING TRADE SECRETS An Outline For Analyzing The Statutory And Common Law Of Trade Secrets In Illinois DEBBIE L. BERMAN APRIL A. OTTERBERG JUSTIN A. MALESON ABRAHAM M. SALANDER AARON J. HERSH © 2017 Jenner & Block LLP All Rights Reserved JENNER & BLOCK LLP OFFICES ▪ 353 North Clark Street Chicago, Illinois 60654-3456 Firm: 312 222-9350 Fax: 312 527-0484 ▪ 919 Third Avenue, 37th Floor New York, New York 10022-3908 Firm: 212 891-1600 Fax: 212 891-1699 ▪ 633 West 5th Street Suite 3600 Los Angeles, California 90071-2054 Firm: 213 239-5100 Fax: 213 239-5199 ▪ 1099 New York Avenue, NW Suite 900 Washington, D.C. 20001-4412 Firm: 202 639-6000 Fax: 202 639-6066 ▪ 25 Old Broad Street London EC2N 1HQ United Kingdom Firm: +44 (0) 330 060 5400 Fax: +44 (0) 330 060 5499 WEBSITE ▪ www.jenner.com AUTHOR INFORMATION ▪ DEBBIE L. BERMAN ▪ APRIL A. OTTERBERG Partner Partner Tel: 312 923-2764 Tel: 312 840-8646 Fax: 312 840-7764 Fax: 312 840-8746 E-Mail: [email protected] E-Mail: [email protected] ▪ JUSTIN A. MALESON ▪ ABRAHAM M. SALANDER Partner Associate Tel: 312 840-8620 Tel: 312 840-7569 Fax: 312 840-8720 Fax: 312 840-7669 E-Mail: [email protected] E-Mail: [email protected] ▪ AARON J. HERSH Associate Tel: 312 840-7412 Fax: 312 527 0484 E-Mail: [email protected] INTRODUCTION TO 2017 EDITION Since the first edition of this outline was published in 2009, Illinois case law addressing the protection of confidential and trade secret information has continued to develop, particularly in the area of restrictive covenants.
    [Show full text]